Baijiu maker Luzhou LaoJiao Co. (000568, SZ) announced on Monday night that the company plans to buy Luzhoulaojiao Tianfu Middle School Fenghuang campus with 420 million yuan (62.89 million U.S. dollars), for the purpose of renovating and reconstructing the property into a tourist attraction.

According to the public information, Luzhou Laojiao's cultural tourism strategy took shape with the opening of "Guojiao Square" several years ago.

A Luzhou Laojiao insider told the NBD reporter that with Luzhou Laojiao's increasing influence and rising brand strength, flooding tourists crowds Guojiao Square. Therefore, the company decides to buy Luzhoulaojiao Tianfu Middle School Fenghuang campus which stands by the side of Guojiao Square as an extension to the Guojiao Square site.

Sun Yanyuan, an expert in the liquor industry, told the NBD reporter that Luzhou Laojiao is not the only liquor enterprise which makes its plants tourist spots and makes use of other resources to explore a new profit growth point. Wuliangye Yibin, Kweichow Moutai and others also joined the club. Sun explained that liquor companies started making foray into industrial tourism over a decade ago. To open plants to tourists is more an experiential marketing and promotion of liquor products than a profiting means, Sun added.

Email: gaohan@nbd.com.cn