The study looked at factors affecting financing costs for Chinese tourism companies. They found that companies near scenic spots had lower financing costs. Geographical location and tourism demand also influenced costs. Diversification strategies could increase costs, while non-state-owned companies had lower costs. Information disclosure and legal protection reduced costs. Ownership structure had a non-linear relationship with costs. Executive incentives could increase costs. The findings suggest using various debt financing channels to lower costs and being cautious with diversification strategies.