The Evaluation Of The Right To Operate Tourist Attractions

Transfer of the right to operate tourist attractions is still a controversial issues. Local government, tourism administrative departments and some scholars believe that transfer of the right to operate tourist attractions is consistent with China. Through the investment of resources to achieve The function and role of tourism resources and format a virtuous circle of development -protection.?Although this is a controversial issue, but did not prevent the development process of transfer of right to operate area. in 1997, Ye Wenzhi obtained the right to operate Huanglong Cave of Wulingyuan scenic spot for 45 years, it is the first case of transfer of the right to operate domestic tourism attractions. Until now, This model has expand more than 300 scenic spots of 20 provinces (cities, districts), and has a number of practical experiences. However, the research achievements on the price evaluation of the right to operate tourist attractions are rather scarce in our country. In this context, there are higher demands on the study of the price evaluation of the right to operate tourist attractions.I have combined the theories of assets assessment and the characteristics of the right to operate tourist attractions, analysed and researched the price evaluation of the right to operate on the tourist attractions. And I have studied the concrete application of the three major methods of the assets assessment- comparative method, income method, cost method in the area of price evaluation of the right to operate on the tourist attractions, constructed a assets assessment-based system of price evaluation of the right to operate on the tourist attractions. Finally, I have took a example of western pleasure garden, predicted its next decade incomes on the base of the LS-SVM's forecasting method, and have assessed current price of the right to operate it. Five major conclusions have been obtained: First, the comparison is not applicable to the valuation of the right to operate a large area, But it is more applicable to the valuation for comparable transactions with an instance of real estate and business services of travel; Second, New development and construction, it can be assumed to redevelopment and reconstruction or it plan to development and construction of tourist objects, can be valued using the cost method; Third, the income approach for the tourist attractions that the benefits and risks can be accurately quantified; Fourth, the three major method of the asset valuation learning can be applied in the assessment of the right to operate the transfer price, and they have the respective scope, advantages and disadvantages; Fifth, LS-SVM can provide a good generalization ability and it is applied to tourism revenue forecasts.