Study On The Impact Of COVID-19 On The Financial Performance Of H Tourism Group

Tourism refers to a comprehensive industry in which each region uses its own tourism resources and facilities to attract and receive tourists from other regions for sightseeing,and drives the development of the surrounding economy by providing transportation,catering,accommodation,shopping and other services.The development of tourism industry often symbolizes the continuous improvement of people’s living standards.With the continuous development of China,people’s spiritual needs are growing,and the tourism industry throughout the country is also developing day by day.The scale of China’s tourism industry has been growing steadily since 2010,according to statistics from China’s Ministry of Culture and Tourism.In 2019,the number of domestic tourists in China exceeded 6 billion,and the annual tourism revenue reached 6.63 trillion yuan.The comprehensive contribution of tourism to GDP was 10.94 trillion yuan,accounting for 11.05%of the total GDP.But at the end of 2019,a case of pneumonia of unknown cause was detected by the Wuhan Center for Disease Control and Prevention in Hubei Province,ushering in a global viral storm and the battle against the Novel Coronavirus.As the novel coronavirus is highly contagious,the country has urgently closed all entertainment venues and urged people to stay at home and avoid going out,preventing the further spread of COVID-19 in a timely manner.The outbreak of COVID-19 has brought a great impact on almost all industries across the country.Companies are on holiday,factories are down and consumption is in a continuous slump,making many companies face losses or even close to bankruptcy in 2020.The tourism industry,which relies on attracting tourists,has been hit hard by the COVID-19 pandemic.In this paper,based on the prevention and control measures of COVID-19 and by combining empirical analysis and case analysis,the representative H Group is firstly selected as the research object,the relevant business situation of H Group is introduced,and the specific measures to deal with the EPIDEMIC are summarized.After that,the financial performance indicators of H Group from 2016 to 2021 were analyzed,and the conclusion was drawn that the financial performance level of H Group decreased after the COVID-19 outbreak.Followed by using empirical analysis to H group,2016-2021 financial data regression analysis with new crown outbreak,to launch new crown outbreak and H travel group relationship between financial performance,it is concluded that the new crown outbreak lower H travel group financial performance level,and combined with the conclusion and H group response to new outbreaks of measures,Suggestions are put forward for tourism enterprises to improve their financial performance.