Personal understanding of commercial real estate and cultural tourism real estate

Excerpts

Personal understanding of commercial real estate and cultural tourism real estate refines the understanding of commercial real estate

With the rapid advancement of urbanization, cities The modernization of business is closely connected with commercial real estate. For a commercial project to be successful in operation, it will undoubtedly involve many aspects of work. From early-stage market research, business planning and architectural planning to later-stage investment recruitment, sales and commercial operation management, every job requires professional investment.

Commercial real estate is a comprehensive industry with the triple characteristics of real estate, commerce and investment. It has the characteristics of real estate, business, and investment. It is different from pure investment and business, and also different from other traditional real estate industries.

1. The concept of commercial real estate:

Broadly speaking, it refers to the real estate situation used for various retail, wholesale, catering, entertainment, fitness, leisure and other business purposes, from the business model, The function and use are different from ordinary houses, apartments, villas and other real estate situations.

2. Current classification of commercial real estate:

From the perspective of business forms in the industry, it can be divided into commercial plazas, commercial streets, SHOPPING MALL, large shops, shopping malls, pedestrian streets, commercial Plazas, professional markets, community businesses, etc.;

According to investment value, they can be divided into "urban shops", "professional market shops", "community shops", "residential ground floor shops", etc. .

? Classified according to the development form, it can be divided into commercial street shops, community shops, shopping malls, department stores, leisure plazas, pedestrian streets, professional markets, etc.

3. Commercial real estate business model:

Operation of commercial projects: Since suburbanization of urban residences in my country is not yet common and the penetration rate of family cars is not high, large shopping malls are common They are all chosen in the city center business district because business is prosperous here, consumption power is good, transportation is convenient, and passenger flow is large. For example, Chunxi Road in Chengdu, Jiefangbei in Chongqing, Wangfujing in Beijing, and the City God Temple in Shanghai. There is no possibility of success in operating commercial real estate in poorly located locations. As long as the target consumer groups are accurately positioned, neighborhood businesses and themed businesses can also be options. For example, Huanan MALL in Shenzhen.

The market positioning of the project must be planned well. In actual development of modern commercial real estate, the market positioning of commercial projects is in a sense more important than the choice of location. ?Detailed research, clear judgment, macro-coordination, and decisive decision-making are all essential for positioning. Grasp the pulse of the market, determine business models of different categories, and create maximum differentiation to lead the market.

1. Position positioning.

The location selection of commercial real estate and the positioning of commercial real estate are inseparable. The location principle of commercial real estate is based on "accuracy". There is a famous saying in the location selection of large shopping malls: "The first condition for success is location selection, and the second condition is also location selection."

Three conditions for location selection in shopping:

< p> ? Geographical location can represent the new trend of urban business;

? Must have a considerable number of middle- and high-income consumer groups;

? Convenient transportation and parking.

2. Business priority.

Many people say that "commercial real estate is half business and half real estate." Personally, I think that although commercial real estate is a type of real estate, it is a commercial business place after all, so the core is still business. Therefore, we must have a good grasp of the connection between real estate and business.

Research the market clearly. What kind of business is needed in this place? What kind of business is needed? How to allocate business formats? How big is the consumption volume? What is the regional consumption capacity? Carry out operations in a reasonable order through business research, business planning and design, architectural planning and design, marketing planning, and advertising planning. The principle of "business first" should also be adopted in the process of marketing planning.

? 3. Reverse promotion of planning thinking.

In marketing promotion, the focus should be on consumers and increase efforts on the final stage of consumption. Because only commercial places that meet consumer needs as much as possible can business be booming.

?Management comes first.

Whether it is an investor or an operator, I believe that anyone who pays attention to commercial real estate and intends to create economic income through such project investment. Therefore, it is necessary to use sales management demonstrations at the sales stage (similar to "model rooms" and "demonstration areas" in residential sales) to enable customers to experience the commercial management model in advance and enhance their confidence in the business prospects of commercial real estate.

?Anti-residential planning thinking.

Commercial real estate planning is based on the identity positioning of "business" and always considers and solves problems from the "business" perspective. Whether it is strategy formulation or tactical execution, it must be rigorous. Adhere to business principles.

The anti-residential planning principle runs through many aspects of commercial real estate planning, from strategic thinking, image positioning, case name, logo formulation, graphic expression, to marketing promotion forms, promotion channels, store environment and even sales. The image of personnel is obviously different from residential planning. Therefore, commercial real estate planning should always pay attention to the word "business"!

??Activity-led

Commercial real estate promotion should focus on the organization of commercial activities. While striving to organize large-scale commercial activities, use print media to give appropriate publicity reports , increase the visibility and momentum of the event.

Business activities should focus on the word "business" to fully enhance the business atmosphere in the early stage of the project, and demonstrate the maturity and working model of the project's commercial operation management through a series of early activities. Increase the overall business operating atmosphere and enhance the confidence of investors, operators and consumers in the business. The activity must be completed with the joint efforts of planners, investment personnel and commercial operation companies. The activity-led principle is the focus of business planning, and it is also a link where a lot of manpower and material resources should be invested, and sufficient attention should be given to it.

??Strategic Coordination

The operation of commercial real estate is a huge management system, involving considerable human, material and financial resources, which are indispensable for residential operations. Achievable. Not to mention other aspects of commercial real estate operations, the amount of work required for marketing planning alone is staggering. Therefore, the planning team must have a high level of thinking and look at each specific project from a strategic and coordinating perspective. Work, all work must be coordinated, everyone's thinking must be unified, and sometimes the work frequency must be unified.

Under the guidance of strategic thinking, all members must move forward at the same speed. The strategic goal is the common direction of struggle for everyone, work together, cooperate with each other, always put the overall situation first, and create a team The indestructible "general reserve team" realizes the best manpower combination for commercial real estate planning.

2. Commercial real estate investment promotion ideas:

The investment promotion work for commercial projects is a systematic, long-term , arduous system engineering. The success of commercial real estate is inseparable from successful systematic investment promotion methods. Without effective investment promotion methods and the inability to establish long-term effective brand alliances and communication channels with merchants, it will directly lead to the failure of the entire commercial property operation.

1. Maintain the operating ratio of the project.

In commercial projects, the ratio of retail, catering and entertainment is 52:18:30. This ratio is the golden ratio for commercial project operations. This ratio is especially suitable for super large comprehensive shopping malls. When recruiting investment, attention should be paid to maintaining and managing this operating ratio. (This ratio is of course not absolute.) For example, Grandview Plaza in Tianhe, Guangzhou and Hongqiao Shopping Park in Shanghai generally attract investment based on this ratio.

2. Maintain the unified theme image and brand image of the project.

Although large-scale commercial theme projects are a business organization model that combines multiple industries, it is not a hodgepodge, but a brand image enterprise with a clear business theme and great creativity. For example, Zhuhai Chimelong

3. Functions and forms are different from the same industry and complementary to different industries.

The difference between peers is that the market has a certain tolerance and you cannot blindly recruit stores of the same category.

Complementarity among different industries is to satisfy customers’ choice of consumption, and to allow customers to experience physical and mental changes and increase their interest in consumption. For example, department stores and supermarkets complement each other, and retail and catering complement each other. The more successful cases in this regard are Pacific Place in Hong Kong and Teem Plaza in Guangzhou.

4. Principles for choosing business methods.

There are basically three ways of operating commercial projects: self-operation, joint operation and leasing. Core anchor stores are partially or entirely self-operated; secondly, it can enhance the confidence of other merchants to cooperate with them; thirdly, it can increase the commission or rental income of non-anchor stores. For non-anchor stores, try to focus on joint operations, supplemented by leasing.

5. The principle of investment sequence

The principle of core stores first and auxiliary points later; the principle of giving priority to retail shopping projects and supporting auxiliary projects.

6. Principles of investment layout for core anchor stores

Core anchor stores are suitable to be placed at the end points of the business axis (or linear pedestrian street), and should not be placed concentratedly in the middle, so as to organize the flow of people. effect.

7. Principles of preferential investment promotion for special merchants

"Special operation, point-to-point approach" is the operating characteristic of Shopping Mall, a super-large comprehensive shopping mall with special commercial projects. Special merchants refer to business units with high cultural, artistic, and technological content. Giving them preferential policies and inviting them to enter can enhance the cultural atmosphere and activate the atmosphere of the shopping mall. For example, Shenzhen Overseas Chinese Town Shopping Center invited Sanbai Inkstone Studio to showcase China’s inkstone culture. Of course, the business scope of special merchants is consistent with the business theme and brand image of the shopping mall.

8. The leasing operation adopts the principle of releasing water to raise fish. It can be understood as “Buy popularity first, then business.

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Shopping malls have long-term characteristics. They adopt reasonable rents and high-quality services to make the shopping centers popular, steadily adjust rents, and grow together with merchants.

9. "Unified investment promotion" "Management" should fully reflect and emphasize unified services to merchants.

10. Have a complete information system and provide convenient services.

Conveniences vary: management convenience, financial accounting Convenience, marketing convenience, business decision-making convenience, settlement convenience, consumption convenience, etc.

3. Commercial project management

At this stage, the management and operation of commercial properties and properties in our country. The division of labor is not clear, and it is easy to neglect the operation and management. It is easy for the early sales and leasing to be hot, but the business will be empty after a short period of time.

1. How to operate. p> The focus should be on project operation and promotion, including project operation zone management, overall image promotion, organization of holiday promotions, supervision of merchant operation quality, merchant withdrawal and transfer, etc. Professional operation and management talents should be recruited and established. Your own commercial management company is busy using other flexible methods to keep the project operations on track.

2. Basic ideas for commercial project management:

The project must have precise positioning: goals. Group positioning, theme positioning, shopping mall positioning, business positioning, business items, planning and layout design, etc.

? How to attract people to the mall after opening (effective promotion activities are required)

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?How to keep the flow of people in the mall (scientific flow-oriented design and effective guidance measures)

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?How to increase the time people stay in the mall (scientific shopping mall planning)

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?How to guide, Stimulate consumers' desire to purchase (effective promotional measures, creation of shopping atmosphere and environment)

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?How to maintain the continued attractiveness and competitiveness of shopping malls (Long-term effective maintenance of the mall's unified theme image and brand image, attractive and reasonable product mix, business planning, regular promotion, excellent business management, etc.)

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3. Promotion

Promotion methods and activities can be diversified, co-organized with merchants, and combined with certain advertising (can take advantage of holidays) to attract consumers

< p> 4. Do a good job in management: Strongly create and maintain the "fashion coordinates and information coordinates" image of the project for a long time, and maintain the theme image and unified brand image of the project.

5. Attracting people is the key. The main tasks of commercial project operation managers, people flow guidance is the focus of operation and management. Link up with large anchor stores to maximize the flow of people.

6. Make sufficient preparations to face the three important periods after the project opens.

Generally speaking, there are three important stages after a commercial project opens: the first three months, half a year, and one year. During these three periods, managers must be fully prepared and prepared for emergencies.

7. In the long run, project managers must consider cost issues.

Summary: In summary, the core issues of commercial real estate are not only site selection and precise project positioning, but also experience management and investment promotion.

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Cognition and understanding of cultural tourism real estate

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1. The concept of cultural tourism real estate

Cultural tourism real estate is literally understood as "culture + tourism + real estate", and its essence and core is "cultural tourism" rather than "real estate". Cultural tourism real estate contains the concept of regional operations. It is a new model in today's real estate industry. It is a composite real estate industry with great development potential. It is also a new transformation and market demand in the real estate industry.

The significance of cultural tourism real estate development is not only to cater to market demand, but also to judge competitiveness through sorting out the city's status and advantageous resources. It is also said to unite people's hearts and gather people. Connect people and create a sense of identity. Culture can subtly change people's temperament and heart. The greater the popularity and passenger flow of a place, the greater its commercial value will be. The meaning of cultural tourism real estate is to bring these all together.

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2. Characteristics of the cultural tourism market

In recent years, cultural tourism real estate has mostly been based on characteristic towns and characteristic culture, relying on "town-tourism integration" ” concept has its place in cultural tourism projects. For example, Longquan Celadon Town in Zhejiang, Shexiang Town in Jingning She Autonomous County, Longwu Tea Town in West Lake in Hangzhou, Fuhua Snow Mountain Town in Lijiang, etc., seem to have different characteristics and their own merits, but if you dig deeper into their business philosophy, you will find that Most of these characteristic towns are based on establishing a unique tourism image and relying on original ecological folk culture to successfully create cultural tourism projects.

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3. Current Development Status

1. Unbalanced Regional Distribution

my country’s cultural tourism real estate is mainly concentrated in areas with better natural resources region, regional development is obviously uneven. The three major regions of Hainan, Bohai Rim, and Yangtze River Delta have the largest number of projects, accounting for 21%, 17%, and 16% of the total number of cultural tourism real estate in the country respectively. In recent years, the development of cultural tourism real estate in Southwest China, Guangdong and Guangxi, and southeastern Fujian has also been very rapid. Rapidly; the six major regions account for 78% of the total cultural tourism real estate in the country, and different regions have their own unique label characteristics.

·Hainan: A pioneer in cultural tourism real estate. Due to its favorable climate conditions and coastal landscape resources, Hainan is the area with the largest and most concentrated cultural tourism real estate development in the country. In the past two years, development has gradually returned to rationality;

·Southwest: Cultural tourism-oriented; concentrated in In cities such as Chengdu, Chongqing, Guiyang and Lijiang, projects focus on the development and creation of cultural characteristics;

·Yangtze River Delta: 5+2 consumer demand of large urban communities; the Yangtze River Delta region has a developed economy and a relatively high level of urbanization High, so the relatively available resources for development are limited. Projects in the region mainly meet the 5+2 leisure and vacation needs of large urban communities. In addition, various unique cultural tourism towns in the Yangtze River Delta region have developed rapidly in recent years;

·Bohai Rim: Coastal Resort Developing in the direction of diversification and compounding; the Bohai Rim area meets the needs of northern customers for nearby vacation tourism. This area has rare vacation tourism resources such as coastal areas, lakesides, and forests. Currently, tourism real estate projects are planned to include alpine skiing, hot spring recuperation, urban shopping, etc. A combination of complex business formats;

·Guangdong, Guangxi and southeastern Fujian: rising stars; the Guangdong and Guangxi regions have a pleasant climate and abundant coastal resources, and the southeastern Fujian region is rich in natural resources such as mountains, lakes, seas, and hot springs. These two areas are currently dominated by three major tourism real estate projects: seaside, mountain, and themed. There are also a small number of lakeside, hot spring, golf, and ancient town projects. They have broad development prospects in the future.

2. Over-reliance on natural resources

Most of the core selling points of cultural tourism real estate are natural resources such as mountains, lakesides and coastal areas. The three account for 13% and 13% of the total number of cultural tourism real estate in the country respectively. 29%, 24%, totaling 66%. As the homogeneity of cultural tourism real estate in my country becomes increasingly serious, the problem of insufficient customer stickiness has begun to emerge. Therefore, in recent years, projects developed purely with natural resources (coastal, lakeside, mountainous areas) as their selling point have been on a downward trend - accounting for 78% in 2014 and 64% in 2015.

Cultural tourism real estate such as theme parks and cultural tourism towns, which have enjoyed good development momentum in recent years, are relatively weak in sales dependence. The former has the advantages of low land acquisition cost, continuous ticket revenue, and quick cashback from supporting commercial and real estate projects. The development of the latter does not require huge hardware investment. The key lies in how the developer interprets and upgrades the historical and cultural value of the project itself, and creates the uniqueness of the project in terms of business format, construction and operational services. Under the trend of urbanization, there are huge market opportunities in the future.

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3. Review of the development of cultural tourism real estate

? Barbaric growth (2012-2014)

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2012-2014 was a period of crazy development for cultural tourism real estate in my country, with an average of nearly 2,200 new projects annually and an average growth rate of 83%. Some developers are crazy about enclosing land under the guise of "culture" and "tourism", resulting in low-level and homogeneous projects blooming everywhere. As of the end of 2014, according to statistics from the National Bureau of Statistics, there were 7,965 cultural and tourism real estate projects nationwide, including 589 large-scale projects for sale. The average stock of these projects for sale reached 2,043 units, and the average sales rate was 12 units/month, completing It will take 14 years to eliminate the existing stock.

? Turning point (2015)

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In 2015, the problems caused by the previous too-fast development gradually emerged: the previous batch of blind Following the trend and unclear positioning, sales-oriented projects are gradually eliminated by the market; while the market stock is too high, the overall sales have entered a period of sluggish sales, causing my country's cultural tourism real estate development to fall into a low ebb. In 2015, there were only 736 new projects in my country, and the growth rate dropped sharply to 9%. It is worth noting that these 736 new projects were invested and developed by 601 companies; on the other hand, as of the end of 2015, there were 5,297 companies developing and operating cultural tourism real estate projects in my country, a decrease of 27% from 2014. These figures show that the concentration of my country’s cultural tourism real estate industry is increasing, and the industry reshuffle and adjustment are gradually beginning.

? Growth picks up (2016)

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Entering 2016, the development of my country’s cultural tourism real estate has gradually returned to rationality. In the first half of 2016, there were 1,243 new projects, and the growth rate has picked up. It is expected that in the future, a group of development companies with strong strength and true insistence on cultivating cultural tourism real estate will become the mainstream of the industry. They can obtain projects with good resource conditions through mergers, acquisitions, cooperation, etc., thereby achieving large-scale and industrial development.

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4. Future trends of cultural tourism real estate

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1. The tourism market is shifting from sightseeing and vacation travel to culture and experience Travel Transformation

Chinese consumers have fully entered the Travel and Living 3.0 era, with demand for travel focusing on comprehensive leisure vacations, cultural experiences, themed entertainment, adventure and other experiences, and consumers' requirements for new product ideas have further increased.

It is expected that in the future, ecological tourism, adventure, and in-depth tourism will become more and more popular in the market, accommodation forms will become more diverse, and various health spas, fitness activities, meditation venues, and outdoor facilities will also become more popular. More commonly, it inspires travelers to embark on a journey of self-discovery by conveying a healthy and active lifestyle.

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2. In the stock era, the marketing model changes to the operating model

Real estate has entered the stock era, with "high leverage, low investment, rapid turnover, and cash flow "Return to the truth" The traditional marketing-oriented development model is gradually unsustainable, especially for cultural and tourism real estate. The development cycle from hundreds of thousands of square meters or even several square kilometers generally requires more than 3 to 5 years to achieve scale effects. Most projects have backward infrastructure and incomplete supporting facilities in the early stage. They cannot be pre-sold like residential properties in urban areas. Cultural and tourism real estate must find a new development model.

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3. Gradually return to the essence of tourism

With the rise of online travel, timeshare and other models, there will be more vacation options in the future With more choices available, consumption patterns and needs have also changed, and many people are no longer willing to spend money to buy vacation homes. Cultural tourism real estate projects in Sanya, Yunnan and other regions have suffered from slow sales and subsequent lack of popularity, which has put great financial pressure on developers. The development model of "short-term profiteering through real estate" has officially come to an end.

In the future, cultural tourism real estate will return to the essence of tourism, and there are two main development models. One is to maximize tourism, drive the improvement of real estate value through tourism, and achieve good self-profitability through tourism itself. For example, Wanda's Changbai Mountain International Tourism Resort, Shenzhen's Eastern Overseas Chinese Town, etc.; the other is the tourism performing arts model, which is driven by special tourism, such as the "Eternal Love in Songcheng" and "Impression of the West Lake" series. The key point of this type of model is how to create shocking visual enjoyment for tourists through cultural excavation, innovative forms, and the use of novel techniques, which requires high comprehensive capabilities of the enterprise. For many small and medium-sized tourism real estate development companies, it is best to make breakthroughs in a "small but beautiful" way and spend more time on early content innovation, just like Naked Valley, winning the market with taste and atmosphere. sought after.

4. Is the profit model changing from "single" to "diversified"?

From the initial competition for resources and scale to the current competition for products and operational capabilities, cultural tourism real estate has The corresponding profit model is also gradually changing. In the past, corporate profits mainly came from real estate sales, with later property management and leasing services accounting for only a small proportion. In order to obtain greater profit margins and sustained and stable income in the future, development companies are bound to find new profit models.

5. Market demand for cultural tourism real estate

Behind the seemingly popular tourism industry, there are also various problems, such as structural undersupply and structural excess. While the supply of high-quality and high-quality tourism products exceeds demand, tourism investment is also overly concentrated in hotels and low-quality scenic spots, resulting in the tourism industry lacking feelings, characteristics and market attractiveness, resulting in a lot of vacant resources. At this time, cultural tourism real estate is Can replenish vacancies in a timely manner. According to statistics, the urban living era has truly transitioned into the sojourn era, and a large number of tourism industry chains have emerged. The leisure and vacation products pursued by urbanites have released huge market demand, and this mass tourism product will gradually develop into the current lifestyle-oriented product. At this time, the cultural tourism market ushered in a period of rapid development.

6. Thoughts on the maturity of cultural and tourism real estate:

1. The dilemma of cultural and tourism real estate - "dilemma":

? It’s close to get it The land is difficult, and it is difficult to sell if it is far away;

?It is difficult to appreciate in the short term and difficult to turn over in the long term.

2. Customer characteristics of cultural tourism real estate:

? There are many foreign customers and few local customers;

? There is more demand for cold shelter and less demand for summer vacation;

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? It has more investment components and less vacation components;

? It has more demand at the two extremes and less demand in the middle;

? It has more interest in experience and less interest in sightseeing.

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Summary: The most important issues for us to think about in cultural tourism real estate are:

1. Is “tourism first” or “real estate first”? ?

Theoretically, it should be "tourism first", starting from the perspective of transforming the regional environment and supporting facilities, increasing popularity and awareness, and then proceeding with real estate development when the area reaches a certain maturity. But for high-leverage, fast-turnover real estate companies, waiting for appreciation is not realistic. Projects can easily cost billions of yuan or even tens of billions of yuan, which is unbearable for any real estate company.

Therefore, in reality, some real estate companies will give priority to the "real estate first" model, pursue the greatest room for appreciation, and first transfer the appreciation expectations to customers to quickly withdraw funds.

Cultural tourism real estate requires a large initial investment and is an asset-heavy project that must rely on real estate for feedback. However, the later premium of real estate needs to be increased by the successful operation of tourism. Therefore, the long-term development of cultural tourism real estate projects will test the operational capabilities and wisdom of real estate companies.

2. Factors for the success of cultural and tourism real estate

The factors for the success of cultural and tourism real estate can be briefly summarized as follows:

? Broad market: Cultural and tourism real estate is often located in remote areas and has poor transportation. Living facilities are not perfect, and consumers are obviously resistant due to distance. Therefore, we must be prepared for long-term development of the market.

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?Large supporting facilities: Cultural tourism real estate has great consumption elasticity, so attention must be paid to the construction of supporting facilities. Representative project: Agile Clearwater Bay. Successful cultural tourism real estate projects generally include: scenic spots, golf, theme parks, hot springs, hotels, yachts, etc., to meet the needs of accommodation, viewing, leisure, shopping, and unique experiences.

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?Big resources: natural landscape resources, such as Fuhua’s Snow Mountain Town, relying on Lijiang Snow Mountain; grafting business resources, conference-driven cultural tourism real estate , such as Boao Forum, Kunming World Expo, etc.

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?Big connotation: distinct theme, distinctive local culture, and enhancing the value and taste of the project through history, folk customs, etc. For example, the Torch Festival of the Naxi people and the Water Splashing Festival of Xishuangbanna are grafted onto ethnic minority cultures.

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?Large accumulation of customers: accumulation of large numbers of customers and long-term accumulation of sales. Nowadays, the customers of cultural tourism real estate are large customers across the country and even the world. In addition to attracting local customers, there are also customers from various other places. Spread channels widely, introduce old customers to new customers and other sustainable ways to attract customers.

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?Great integration: In order to ensure long-term, high-investment security, a variety of powerful resources can be integrated for joint development.

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?Large operations: Pay attention to the late-stage value of long-term development, that is, the leasing operation of real estate, tickets and ancillary income from tourism products, Revenue from commercial supporting facilities must be diversified to achieve long-term returns.

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?Large layout: Because the long development cycle will cause the investment recovery period to lag and lower the asset turnover rate, it is necessary to match some short-term and fast projects Provide cash flow and short-term profits.

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