Tianmu Lake Tourism

What Tianmu Lake Tourism does

Jiangsu Tianmu Lake Tourism Co., Ltd. (天目湖旅游, SSE: 603136) is a publicly listed Chinese integrated tourism operator headquartered in Liyang, Jiangsu Province, founded in 1992 and listed on the Shanghai Stock Exchange in September 2017. The company runs a one-stop resort destination built around three AAAAA-level scenic areas — Tianmu Lake Mountain Water Garden, Nanshan Bamboo Sea, and Yushui Hot Spring — supplemented by the Tianmu Lake Water World theme park, a portfolio of nine branded hotels under the 'Yushui' and 'Yu' series, and an in-house five-star travel agency ranked among China's top 100. The integrated 'eat, stay, travel, visit, shop, entertain' model cross-sells tickets, accommodation, F&B, retail, MICE, weddings, study tours, and a designated Jiangsu Provincial Worker Convalescence Base to individual leisure travelers, families, corporate clients, government workers, students, and event customers.

Revenue is generated through multiple transaction-based streams: scenic-area tickets, hotel accommodation, on-site dining, water park admissions, MICE services, retail merchandise (e.g., the 400+ SKU Shanhaiji Shopping Center), VIP custom services, and study-tour/health-retreat packages. Pricing is unit-based, with holiday tickets ranging from 90 RMB (Nanshan Bamboo Sea) to 258 RMB (Yushui Hot Spring) and hotel nightly rates spanning economy to luxury tiers. Distribution combines direct channels (official website, mobile site, WeChat mini-program, on-site counters, in-house travel agency) with platform partnerships (Fliggy flagship store, Ctrip, Tongcheng, Tuniu) and social channels (WeChat, Douyin, Xiaohongshu).

The business is asset-intensive and location-anchored: physical assets include the 35,000-mu bamboo forest, natural hot springs, a smart scenic-area management system (awarded TOP10 Smart Scenic Area 2021), and a proprietary water circulation system at Water World. Go-to-market is hybrid: field sales support B2B and group bookings, high-speed-rail station shuttle campaigns extend feeder-market reach, and the official Jiangsu Worker Convalescence Base certification creates a recurring B2G channel for government and SOE workers. The customer base spans Yangtze River Delta leisure travelers, school study tours, corporate MICE accounts, wedding parties, and trade-union-organized worker wellness groups.

Name

Tianmu Lake Tourism

Legal name

江苏天目湖旅游股份有限公司 (Jiangsu Tianmu Lake Tourism Co., Ltd.)

Website

https://tmhtour.com

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Tianmu Lake Tourism (SSE: 603136) operates an integrated one-stop resort destination in Liyang, Jiangsu, combining three AAAAA scenic areas, a water park, nine hotels, and a top-100 travel agency serving leisure travelers, corporate MICE clients, government workers, students, and event customers across the Yangtze River Delta.

Ownership category

akta.pro rank

Product category

Resort & Scenic Area Tourism

NAICS

Nature Parks and Other Similar Institutions (712190), Scenic and Sightseeing Transportation, Water (487210), Tour Operators (561520)

SIC

Services-Amusement & Recreation Services (7900), Hotels, Rooming Houses, Camps & Other Lodging Places (7000)

akta.pro industry

PRIMARYTHAGAAAK

Marina & Waterfront Full-Service Hotels

Travel & Hospitality/Lodging & Accommodation/Hotels (Full-Service)

SECONDARYTHAAAEAE

River & Wetland Ecotours (Canoe/Kayak, Mangrove/Swamp Tours)

Travel & Hospitality/Adventure, Amusement Parks & Ecotourism/Ecotourism Operators & Nature-Based Tours

SECONDARYTHAAABAC

Resort & Hotel Water Parks (On-Property Guest-Access Parks)

Travel & Hospitality/Adventure, Amusement Parks & Ecotourism/Water Parks

SECONDARYTHAJAJAA

Sightseeing & Scenic Boat Tours (Harbor, Sunset, Dolphin/Whale Watching)

Travel & Hospitality/Tours, Attractions & Experiences/Marine & Water Experiences (Boat Tours, Diving, Snorkeling, Fishing)

Keywords

• Scenic area tourism
• Resort hotel services
• Hot spring hospitality
• Wellness retreat
• Cultural tourism destination

Headquarters

HQ city

Liyang

HQ country

China

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain, Others

Revenue model

1. 景区门票收入 (Scenic Area Ticket Revenue): Revenue from selling admission tickets to three AAAAA scenic areas: Tianmu Lake Mountain Water Garden (山水园), Nanshan Bamboo Sea (南山竹海), and Imperial Hot Spring (御水温泉). Ticket prices vary by attraction and season.
2. 酒店住宿收入 (Hotel Accommodation): Revenue from eight branded hotels including 御水温泉度假酒店 (5-star), 御水温泉·竹溪谷酒店, 遇·天目湖酒店, 遇·十四澜酒店, 遇·碧波园酒店, 遇·竹隐居酒店, 御水温泉客栈, and others. Rooms range from luxury suites to budget options.
3. 餐饮服务 (Food & Beverage): On-site dining at multiple restaurants including 知味渔府, 御膳楼, 珍味堂, 乡菜馆, and specialty food outlets. Local specialties include砂锅鱼头 (sand pot fish head), tea products, and regional snacks.
4. 水世界门票及游乐项目 (Water World Tickets & Attractions): Seasonal water park operations with various water attractions and entertainment facilities
5. 商旅会务服务 (MICE Services): Conference and meeting services including venue rental, catering, and event planning for corporate clients. Maximum conference hall of 680 sqm accommodating 500 people.
6. 旅游商品零售 (Travel Merchandise): Retail of local products including tea, agricultural products, and cultural souvenirs at multiple shopping locations within scenic areas (山海集购物中心 with 400+ SKUs)
7. VIP定制服务 (VIP Customized Services): Premium customized services including VIP exclusive rights, private butler services, and exclusive experiences at various attractions
8. 研学旅行及疗休养 (Study Tours & Health Retreat): Specialized services for educational tours and worker convalescence including Jiangsu Province Worker Convalescence Base certification

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels9 records

Core offering

Tianmu Lake Tourism operates an integrated one-stop tourism destination in Liyang, Jiangsu Province, China, comprising three national AAAAA-level scenic areas (Tianmu Lake Shan Shui Yuan, Nanshan Bamboo Sea, and Yushui Hot Spring), a lakefront water park (Tianmu Lake Water World), and ten hotels organized under the Yushui and Yu brand series, complemented by a top 100 national travel agency, dining outlets, retail merchandise, MICE facilities, worker convalescence services, study travel programs, and wedding customization.

Product overview

Tianmu Lake Tourism (江苏天目湖旅游股份有限公司, stock code 603136) operates a one-stop tourism destination model offering integrated tourism services. The portfolio includes three AAAAA-level scenic areas (Tianmu Lake Shan Shui Yuan, Nanshan Bamboo Sea, and Yushui Hot Spring), one theme water park (Tianmu Lake Water World), eight hotels under two brands ('御水' and '遇' series), one national top 100 five-star travel agency, and comprehensive commercial services. The company provides '吃、住、行、游、购、娱' (eat, stay, travel, visit, shop, entertain) one-stop service experiences, positioning as a compound tourism destination that achieves cross-season coverage for diverse customer segments.

Differentiator

Problem solved

Functional benefit

Brands

• 御水温泉 (Yushui Hot Spring): Hot spring resort brand featuring bamboo forest hot springs with 56 outdoor hot spring pools, a five-star resort hotel, and various wellness services
• 遇 (Yu)
• 御水温泉度假酒店 (Yushui Hot Spring Resort Hotel)
• 御水温泉·竹溪谷酒店 (Yushui Hot Spring Zhuxi Valley Hotel)
• 御水温泉·森酒店 (Yushui Hot Spring Sen Hotel)
• 天目湖旅行社 (Tianmu Lake Travel Agency)

Quantifiable outcome

• 99% customer satisfaction rate for worker convalescence services
• +2 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Eleven partnerships are on record, tiered minor, core and major.

• 欢乐风暴 (Happy Storm Water Park)minorStrategic or Co-development Partner · 6 March 2021Strategic cooperation with Zhejiang Happy Storm water park for industry knowledge sharing and potential expansion.
• 顺丰速运 (SF Express)minorStrategic or Co-development Partner · 20 August 2020SF Express pickup point opened at Nanshan Bamboo Sea scenic area, providing convenience services for visitors.
• 台湾日月潭 (Taiwan Sun Moon Lake)minorStrategic or Co-development Partner · 27 April 2015Sister lake partnership with Taiwan Sun Moon Lake. Delegation visits to celebrate partnership anniversary and exchange tourism experiences.
• 溧阳市南山职工休养有限公司 (Liyang Nanshan Worker Convalescence Co.)coreOthersSubsidiary company responsible for worker convalescence services. Established in April 2017 under Changzhou Federation of Trade Unions certification as first labor model (worker) convalescence base in Changzhou. Certified as Jiangsu Provincial Worker (Labor Model) Convalescence Base in January 2019.
• 上海东湖集团 (Shanghai East Lake Group)coreStrategic or Co-development PartnerJoint venture partner for Imperial Hot Spring Resort Hotel. Strategic cooperation combining East Lake Group's hotel management expertise with Tianmu Lake's scenic resources.
• 飞猪 (Fliggy/Alibaba)majorChannel Partner/ Reseller/ DistributorE-commerce partnership for online ticket and hotel sales through Fliggy flagship store on Alibaba platform.
• 携程 (Ctrip)majorChannel Partner/ Reseller/ DistributorOTA partnership for travel product distribution including tickets and package tours.
• 同程 (Tongcheng/LY.com)majorChannel Partner/ Reseller/ DistributorOTA partnership for travel product distribution.
• 途牛 (Tuniu)majorChannel Partner/ Reseller/ DistributorOTA partnership for travel product distribution and marketing activities.
• 三江学院 (Sanjiang University)minorImplementation/ SI/ Consulting PartnerSchool-enterprise cooperation for research and education industry academy, providing internship and career development opportunities.
• 江苏省总工会 (Jiangsu Federation of Trade Unions)coreStrategic or Co-development PartnerCertifying body for Jiangsu Provincial Worker (Labor Model) Convalescence Base designation and ongoing support for worker wellness programs.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Songshan Scenic Area: Operator of the Mount Song (Songshan) scenic area in Henan, China, with AAAAA rating, hotels, cable cars, and integrated tourism services. Comparable as a Chinese AAAAA scenic area destination operator combining natural attractions, hotels, and cultural/heritage tourism.
• Octopus Entertainment Group: Hong Kong-listed tourism and hospitality group operating destination resorts, theme parks, and hotels in Greater China. Comparable as a regional integrated resort destination operator targeting leisure travelers with similar attractions + hotels + experiences model.
• Zhangjiajie Tourism Group: Operator of Zhangjiajie National Forest Park and surrounding scenic areas in Hunan with AAAAA rating, hotels, cable cars, and themed attractions. Comparable as a Chinese nature-based scenic destination operator with integrated hotel, attractions, and experience offerings.
• Huangshan Tourism Development: Publicly listed Chinese tourism company operating the Mount Huangshan (Yellow Mountain) UNESCO World Heritage scenic area with cable cars, hotels, and travel services. Comparable as a Chinese listed AAAAA scenic destination operator combining natural attractions, hospitality, and integrated tourism services.
• Changbai Mountain Tourism: Operator of Changbai Mountain scenic area in Jilin Province, China, offering integrated AAAAA scenic experience with hotels, hot springs, and winter/summer activities. Comparable as a Chinese nature-based integrated resort destination with hot springs, scenic area, and seasonal water/snow activities.

Regional players

• Great Wall Tourism: Operator of the Badaling/Beijing Great Wall scenic area, including hotels, restaurants, and integrated tourism services. Comparable as a Chinese AAAAA scenic destination combining heritage attraction, hotels, and integrated tourism services, though with primarily cultural (vs. nature-based) positioning.
• Wulingyuan Scenic Area: Operator of the Wulingyuan UNESCO World Heritage scenic area in Hunan Province with AAAAA rating, hotels, and integrated tourism services. Comparable as a Chinese AAAAA nature-based destination operator with similar integrated attractions/hotels model, though serving a different geographic region.

Broad incumbents

• Beijing Tourism Group: State-owned tourism conglomerate operating major Beijing-area scenic attractions, hotels, and travel services. Comparable as a larger incumbent Chinese tourism destination operator with multiple A-rated scenic assets and integrated hotel/hospitality operations.
• Songcheng Performance Development: Large publicly listed Chinese tourism company known for its themed performance tourism (e.g., Romance of the Song Dynasty). Comparable as a Chinese listed tourism destination operator with integrated scenic/entertainment/hospitality assets and similar scale in the Yangtze River Delta region.
• Hangzhou Songcheng: Major Chinese listed tourism company operating large-scale themed performance and resort destinations, including integrated hotels, performances, and attractions. Comparable as a Chinese listed integrated tourism destination operator with theme park, performance, and hospitality components in the broader Yangtze River Delta region.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance11 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries5 records

Funding overview

Funding rounds1 record

Investors1 record

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 Tianmu Lake Tourism