文旅产业是中国宏观经济的和人民生活密切相关的战略性行业，中国努力加强重点文旅景区及线路的基建设施，资本支持是核心要素。国内众多规模较大的文旅综合体，已开始优化和升级产业结构，强化产品建设，这需要大量资本注入。但是文旅业投资大，投资回报周期长，资本欠缺，融资难度大等问题仍然阻碍着文旅综合体的发展。因此，迫切需要新型的融资渠道来消除融资阻碍。

本文在总结以往研究成果的基础上，对研究结论进行了归纳总结，并通过文献归纳的方法对不足之处进行了分析，以利于对已有结论的利用及不足的补充；比较分析法用于比较传统的融资渠道、其余基于市场的融资渠道与文旅资产证券化融资渠道，研究发现文旅资产证券化融资渠道可以弥补传统融资渠道的不足，如额度不大，渠道集中单一，成本较高等。这种融资渠道有助于文旅业的发展；采用统计分析方法对具有代表性的文旅产业数据进行分析。利用融资渠道的统计数据来解释当前具有代表性文旅综合体的融资状况，表明当前需要一种新的融资渠道来消除融资难的障碍；案例分析法用于选取有着时效性的案例，针对项目融资需求，核心流程及和现有风险展开系统探讨，检验融资方法是否具备可扩展性，并将理论和实践相融合。

本文的创新点是将适合中国现实情况的文旅资产证券化和规模较大的文旅业整合，探索通过发行园区入园凭证等模式来实施文旅资产证券化是否现实可行及广泛推广。

这项研究得出如下结论，文旅资产证券化能够顺利实施的核心要素是基础资产在将来可以提供平稳同时能够预测的现金流量，它可以与企业的其余资产进行重组并实现战略目标，以及可以应用各种增信措施来提升基础资产的信用等级。文旅资产证券化融资渠道对成熟与新兴的文旅企业是可行的，但如果企业仍然处在建设期则是不具有可行性。本文的研究能够为其他文旅企业的融资提供一定的借鉴和参考。

The cultural tourism industry is a strategic industry closely related to China's macro-economy and people's lives. China is striving to strengthen key cultural tourism attractions and infrastructure facilities. Capital support is the core element. Many large-scale domestic cultural and tourism enterprises has begun to optimize and upgrade the cultural tourism industry structure and strengthen product construction, which requires a large amount of capital injection. However, the large investment in cultural tourism industry, long investment return cycle, lack of capital, and difficulty in financing still hinder the development of cultural tourism industry in the province. Therefore, there is an urgent need for innovative financing methods to eliminate financing obstacles.

Based on the summary of previous research results, this paper summarizes the research conclusions and analyzes the deficiencies through the method of literature induction to facilitate the use of the existing conclusions and supplement the deficiencies; the comparative analysis method is used to Compared with traditional financing methods, other market-based financing methods and cultural travel ABS financing methods, the study found that cultural travel ABS financing methods can make up for the shortcomings of traditional financing methods, such as small amount, single channel concentration, and high cost. This financing method helps the development of the cultural tourism industry; statistical analysis methods are used to analyze the data of the representative cultural tourism industry. Using the statistical data of financing methods to explain the financing status of the representative cultural sample, indicating that a new financing method is needed to eliminate the obstacles to financing difficulties; the case analysis method is used to select time-sensitive cases for the project financing needs, the core Process and systematically discuss with existing risks, check whether the financing method is scalable, and integrate theory and practice.

The innovation of this article is to integrate the cultural tourism ABS suitable for the reality of China and the cultural tourism industry, and explore whether the implementation of tourism ABS through the issuance of tickets and scenic spot tickets is realistic and feasible and widely promoted.

The study concludes that the coreelements，for the successful implementation of ABS is that the basic assets can provide stable and predictable cash flows in the future, it can be reorganized with the remaining assets of the enterprise and achieve strategic goals, and can be applied to various Various credit enhancement measures to improve the credit rating of the underlying assets. The cultural travel ABS financing method is feasible for mature cultural tourism enterprises and emerging cultural tourism enterprises, but if the enterprise is still in the construction period, it is not feasible. The research in this article can provide a certain reference and reference for the financing of other cultural tourism enterprises.