Investment Value Analysis Of Listed Tourism Companies In China

With the social development, tourism has become the most powerful and the largest industry. If the tourism companies can achieve the financing support in the capital markets, tourism companies will quickly achieve the large-scale development. Therefore, the investment value research of the listed tourism companies not only can provide decision-making reference for business managers, but also can promote the sustainable development of tourism, so this research has the theoretical and practical significance.Using a combination of theoretical and empirical methods, based on the summarized the characteristics of the tourism listed companies and the investment value, 22 listed companies as research samples are measured on its financial and non-financial situations respectively. It is measuring the financial value of the listed tourism companies in first part. It uses the tourism publicly available financial data, based on factor analysis from the profitability, growth, asset operation and solvency aspect. The result can effectively reflect the financial value of tourism companies. Secondly, it is building the non-financial value evaluation system. Based on the characteristics of listed companies in tourism and investment value of the feature, it builds the non-financial value of the evaluation system from business value, regional value, and environmental value of tourism. Based on Analytic Hierarchy Process evaluation giving weight according to DPS, it obtains the non-financial value system of the tourism listed companies. Finally, comprehensive analysis of tourism in the financial value and non-financial value of listed companies, and proposes corresponding strategies to enhance the value to tourism companies.The results show that the value of tourism resources companies is the highest, and travel services is higher than hotel catering class. From the financial analysis, the profitability of scenic resources and service listed companies are strong, and the expansion capacity of scenic resources listed companies are better than the other two companies, and most of the resource companies locate in the upper level on the investment value, but hotel and travel services companies are showing a polarization phenomenon. From non-financial analysis, tourism resource companies generally get higher scores, and tourism services companies are more obvious polarization, and the hotel catering class scores other than Jinjiang Shares is generally low. Finally, the corresponding proposition is posed for the business management.