China’s economic development has entered a new normal stage，during which the real estate industry is undergoing a deep adjustment，reform and upgrade are advancing in the tourism industry，and the cultural undertakings are flouring. In this context，more and more capital stream into tourism real estate area. The tourism real estate presents distinctive features in investors，operating models，project portfolios and cultural connotations. Through typical cases studies，the new features and trends of tourism real estate projects can be dissected.