China CYTS Tours Holding

What China CYTS Tours Holding does

China CYTS Tours Holding (中青旅控股股份有限公司, SSE: 600138) is a state-owned travel conglomerate headquartered in Beijing and a member of China Everbright Group, operating as China's first A-share listed travel agency since December 1997. The company serves both individual consumers and corporate/institutional clients through an integrated online-and-offline model: its primary digital channel is 遨游网 (aoyou.com), a packaged-tour booking platform accessible via web and native iOS/Android apps, supported by a nationwide chain of physical retail travel stores in 20+ Chinese cities plus international branches in Tokyo, Vancouver, and Hong Kong. Product breadth spans group tours (跟团游), free independent travel (自由行), cruise, flight ticketing, hotel and resort packages, visa services, customized FIT, MICE, study abroad, outdoor/adventure (如是户外), wellness travel (康养旅行), and immigration services (中青旅移民).

Revenue is generated predominantly through transaction-fee and one-time packaged-tour sales, with prices ranging from roughly ¥208 (domestic day trip) to ¥149,800 (Antarctica expedition), tiered under the proprietary 橙钻服务等级 (Orange Diamond 3/4/5-star) quality classification system and underpinned by the 五零保障 (Five-Zero Assurance) transparent-pricing framework. Distribution combines the e-commerce platform, retail stores, the 中青旅商务差旅 (CYTS Business Travel) B2B division serving government and enterprise clients, the Aoyou Agency (遨游代理) third-party reseller program, and partnerships with Air China, China Eastern, China Southern, and Club Med. Reported annual operating revenue exceeds 10 billion CNY, with 17.6M+ cumulative leisure customers and 4.47M+ visa customers served, and 1.5M+ annual visitors. The company is also the president unit of the China Travel Agency Association and anchors the ~100-member CYTS Alliance (中青旅联盟) of travel agencies, hotels, scenic spots, and cruise lines.

Name

China CYTS Tours Holding

Legal name

中青旅控股股份有限公司

Website

https://aoyou.com

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

China CYTS Tours Holding (SSE: 600138) is a state-owned, Beijing-headquartered travel conglomerate operating the aoyou.com platform and physical retail network, serving Chinese leisure, corporate, and institutional clients with packaged tours, FIT, visa, cruise, and immigration services across 100+ countries.

Ownership category

akta.pro rank

Product category

Travel & Tourism Services

NAICS

Tour Operators (561520), Tour Operators (56152), Travel Agencies (56151), Scenic and Sightseeing Transportation, Water (48721)

akta.pro primary industry

Private/Customized Multi-Day Tour Operators (THAKADAC)

akta.pro secondary industries

Tours, Activities & Experiences Booking Marketplaces (THALAFAF), Retail Cruise-Only Travel Agencies (Leisure) (THAKAKAA), Cruise & Land Tour (Cruisetour) Package Operators (THAKADAO), Luxury Expedition Cruise Specialists (Sales & Distribution) (THAEABAJ)

Keywords

• Outbound tourism services
• Group tour packages
• Visa processing services
• Corporate travel management
• Cruise travel booking

Headquarters

HQ city

Beijing Shi

HQ country

China

HQ region

Asia

Offices21 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain, Others

Revenue model

1. Packaged Tour & Group Travel: The primary revenue stream — fully packaged group tours covering outbound international (Europe, Americas, Africa, Oceania, polar), domestic China, and cruise travel. Includes both guided group tours and semi-independent (半自助) formats. Pricing ranges from budget 3-diamond to luxury 5-diamond offerings.
2. Visa Services: Fee-based visa application processing and advisory services for international travel. The platform supports applications for dozens of countries with real-time tracking. Visa fees are charged per application, with additional charges for expedited processing and document translation/authentication services.
3. Custom/Bespoke Travel Design: Individual and corporate custom travel design services (遨游定制), including personal custom travel (个人定制) and enterprise custom travel (企业定制), charging service fees or incorporating design fees into the overall travel package cost.
4. Hotel & Stay Packages: Sale of hotel accommodation packages, resort bookings, and holiday packages (酒店+), including integrations with destination resort properties like Gubei Water Town (古北水镇).
5. Cruise Travel: Global cruise package bookings and related shore excursion services, covering major cruise lines and routes from major cruise ports worldwide.
6. Corporate Business Travel Management: B2B corporate travel management services (中青旅商务差旅), handling corporate accounts' business travel booking and management needs.
7. Airline Ticketing: Domestic and international air ticket sales, in partnership with Air China, China Eastern, China Southern and other major carriers. Transparent pricing with no bundled services.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels9 records

Core offering

China CYTS Tours Holding is a state-owned tourism conglomerate that sells and operates packaged group tours, free independent travel (FIT), cruise holidays, global visa processing, flight ticketing, hotel/resort packages, customized travel, MICE, and corporate travel services primarily through its Aoyou.com (遨游网) online travel platform and a nationwide chain of physical travel retail stores. The company's primary differentiation is its tiered "Orange Diamond" quality rating system for tour packages, an integrated online-to-offline (O2O) booking and service model, and dedicated B2B corporate travel and MICE divisions serving government and enterprise clients.

Product overview

China CYTS Tours Holding (中国青旅集团) is a state-owned tourism conglomerate listed on the Shanghai Stock Exchange (600138), operating primarily through its online platform 遨游网 (Aoyou.com). The company offers a broad travel services portfolio organized around its core online platform, providing group tour packages (跟团游), free independent travel (自由行 via 百变自由行), cruise travel, global visa services (环球签证), flight booking with airline partnerships to Air China, China Eastern, and China Southern, hotel vacation services, high-end travel (via 耀悦高端), customized travel, local activities, study abroad and educational travel, outdoor travel (如是户外), wellness travel, and immigration services. The ecosystem also encompasses sub-brands including CYTS MICE (中青旅会展) for corporate events, CYTS Business Travel (中青旅商务差旅), Shanshui Hotels, and the Gubei Water Town (古北水镇) resort destination. The company operates out of Beijing with branch offices in Shanghai, Guangzhou, Nanjing, Hangzhou, Tianjin, Chengdu, Chongqing, Dalian, Shenyang, Shijiazhuang, Taiyuan, Wuhan, Urumqi, Xian, and Yinchuan, as well as overseas offices in Tokyo, Vancouver, and Hong Kong, leveraging nearly 40 years of industry experience.

Differentiator

Problem solved

Functional benefit

Brands

• 如是户外: Outdoor travel brand focused on hiking, running, skiing and other outdoor sports events and travel
• 耀悦
• 古北水镇

Products and services

• Group Tours (跟团游) Fully packaged guided group tours covering outbound international destinations (Europe, Americas, Africa, Oceania, polar regions), domestic China, and cruise itineraries, priced by 3/4/5-diamond tier. Targeted at individual families, corporate groups, and organizational clients.
• Free Independent Travel / FIT (自由行) Self-service travel booking combining flights, hotels, and destination services paired with travel guides, enabling families and young travelers to independently plan and book travel components.
• Cruise Travel (邮轮游) Global cruise route selection and booking across major cruise lines worldwide, including polar expedition cruises.
• Global Visa Services (环球签证) Comprehensive visa application and processing service covering dozens of countries including tourism, business, student, and immigration visas, with real-time application tracking and a reported 99.87% approval rate.
• Flight Booking (机票预订) Domestic and international flight search and booking in partnership with Air China, China Eastern, and China Southern Airlines, featuring transparent pricing and no bundled services.
• Hotel Vacation (酒店度假) Search, booking, and integration services for boutique vacation hotels, all-inclusive resorts, themed cultural hotels, family hotels, and brand chain hotels, including Gubei Water Town resort packages.
• High-End Travel / Sparkle Tour (耀悦高端旅行) Premium, private travel experiences delivered by professional travel experts, offering 24/7 concierge-level services and exclusive high-end itineraries for affluent travelers.
• Customized Travel (定制旅游) Bespoke travel design for individuals and corporate clients, including personal custom travel and enterprise custom travel, with dedicated travel designers for government agencies, enterprises, NGOs, family groups, and teams.
• Local Activities (当地玩乐) Overseas local activities including airport transfers, attraction tickets, car rentals, tour guides, and day tours in destination markets.
• Study Abroad & Educational Travel (游学研学服务) Study abroad preparation, camp-based education, and academic travel programs for children, covering major study destinations including the US, UK, Canada, Australia, New Zealand, Japan, and Europe.
• Outdoor Travel - Rushi Outdoor (如是户外) Outdoor travel brand focusing on hiking, running, skiing, and mass sports events, providing sports-and-tourism integrated solutions for outdoor enthusiasts.
• Wellness & Health Travel (康养旅行) Health and wellness travel services offering spa tourism, convalescence, entertainment, and educational travel products in partnership with domestic and international wellness destinations.
• CYTS MICE (中青旅会展) Meetings, incentives, conferences, and exhibitions (MICE) services providing professional meeting and event management for corporate clients.
• CYTS Business Travel (中青旅商务差旅) Corporate business travel management services and solutions for enterprise clients, handling business travel booking and management needs for organizations.
• CYTS Immigration Services (中青旅移民服务) Overseas immigration consulting and visa processing services including investment immigration programs for countries such as South Korea, Canada BC Provincial Tech immigration, Portugal Fund immigration, and Spain Property Purchase immigration.

Quantifiable outcome

• Over 17.6 million cumulative customers served
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration19 records

Feature2 records

Partnerships

Five partnerships are on record, tiered core, flagship and minor.

• China CYTS Alliance (中青旅联盟)coreStrategic or Co-development Partner · 3 April 2002A strategic cooperation alliance established on April 3, 2002, with approximately 100 member travel agencies, hotels, scenic spots, and cruise companies domestically and internationally. The alliance operates on the principles of resource sharing, complementary functions, equal mutual benefit, and integrity cooperation. CYTS Holdings serves as the core organizer and anchoring entity.
• Air China, China Eastern Airlines, China Southern AirlinesflagshipStrategic or Co-development PartnerLong-term strategic partnerships with China's three major airlines — Air China, China Eastern, and China Southern — for flight ticket sales, group allocations, and co-marketing. The partnerships provide priority access to inventory and competitive pricing for tour package bundling.
• Club MedcoreChannel Partner/ Reseller/ DistributorExclusive distribution partnership for Club Med all-inclusive resort packages in destinations including Maldives, Phuket, and Bali. CYTS offers dedicated Club Med product pages and specialized all-inclusive vacation packages across its platform.
• China Construction Bank (建设银行), Agricultural Bank of China (农业银行)minorGTM or Marketing PartnerPeriodic co-promotional campaigns offering bank cardholder discounts on tour bookings. Examples include CCB credit card WeChat payment discounts (满266减26元 or 满36减3.6元) and ABC installment payment benefits (1万元6期分期立减300元).
• Gubei Water Town (古北水镇)coreStrategic or Co-development PartnerGubei Water Town (wtown.com) is a CYTS-related scenic resort destination property, featured prominently on the 遨游网 platform with dedicated hotel packages, day trip products, and activity offerings. CYTS maintains integrated product and distribution synergies with the resort.

Scale indicators9 records

Recent moves4 records

Expansion highlights5 records

Direct peers

• TUI Group: Europe's largest integrated tour operator and one of the world's largest. Comparable business model (vertically integrated tour operator + airline + cruise + hotels), though operating in different geographies; useful international peer benchmark for tour-operator unit economics at scale.
• Caissa Touristic (凯撒同盛): Historically major Chinese outbound tour operator and cruise distributor. Direct comparable in outbound packaged tours and cruise; Caissa's recent financial restructuring (including bankruptcy reorganization) illustrates the structural risks facing Chinese traditional outbound tour operators of similar profile to CYTS.
• Tongcheng Travel Holdings: Second-largest Chinese OTA (Hong Kong-listed) operating Tongcheng-Lv.com and Tongcheng Network. Directly comparable as a Chinese online travel platform selling transportation, accommodation, and packaged tours; overlaps with CYTS on FIT and group tour distribution.
• Tuniu Corporation: Nasdaq-listed Chinese online travel agency historically focused on packaged tours and outbound travel. Directly comparable to CYTS on group tours, FIT, and outbound long-haul product, though Tuniu is more digitally native and has struggled with profitability.
• Trip.com Group: Largest Chinese online travel agency group operating Ctrip, Trip.com, Qunar, and Skyscanner. Directly comparable as a Chinese OTA selling flights, hotels, packaged tours, and cruises; CYTS is much smaller and more traditional, but they compete head-to-head for Chinese outbound traveler wallet share.
• Spring Tour (春秋旅游): Chinese tour operator backed by Spring Airlines, focused on affordable domestic and outbound group tours. Comparable to CYTS on mass-market packaged tours; differs in lower AOV positioning and air-distribution vertical integration.
• UTour Group (众信旅游): Shenzhen-listed Chinese outbound tour operator specializing in European, American, and long-haul package tours. Highly comparable business model to CYTS's traditional outbound tour operations; both target similar middle-class Chinese outbound travelers.

Others

• H World Group (Huazhu): China's largest multi-brand hotel chain operator. Not a direct competitor but a related ecosystem participant — both serve Chinese travelers, and hotels represent both a CYTS supplier and a competing accommodation channel for direct bookings.

Broad incumbents

• Fliggy (Alibaba): Alibaba's consumer travel platform operating as a broad marketplace for flights, hotels, vacation packages, and experiences. Comparable to aoyou.com as a digital travel booking channel; much larger scale and broader product marketplace, but less specialized in traditional tour operations.

Emerging players

• Meituan: Chinese super-app with growing travel offerings including hotels, attractions, and packaged experiences. Increasingly competes with CYTS for domestic travel bookings, particularly among younger users discovering travel through local-life content; partial overlap, primarily domestic and attraction-ticketing.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xe.weibo.com/aoyoucom
• LinkedInlinkedin.com/company/cytsholding

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about China CYTS Tours Holding