With the development of economy and society, people's demand for energy continues to grow. In this situation, the good construction of commercial parks can bring economic benefits. In this paper, an optimal multi-energy trading game strategy for commercial park operators considering thermostatically controlled loads is introduced. Firstly, an integrated demand response (DR) model considering the substitution effect of electricity on the user side is constructed. Then, in this model, commercial park operator (CPO) can guide users' energy use behavior of electricity, natural gas and heating at the same time by changing the price of electricity, while commercial users (CUs) provide the control strategy of thermostatically loads, which is the proposed Stackelberg game. Finally, the game case between the CPO and 40 CUs is taken as an example to verify the effectiveness of the proposed model in improving the benefits of all parties.

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