Hong Kong’s Ocean Park announces HK$234.4 million deficit along with 9 per cent fee increase
Chairman Leo Kung blames loss and fall in attendance on retail and tourism downturn; increase in admission charge will take effect on New Year’s Day
For the second year in a row, Hong Kong’s Ocean Park recorded a loss coupled with a drop in attendance, which the theme park blamed on the city’s recent retail and tourism downturn.
The Southern District attraction also announced a 9 per cent admission fee increase on Wednesday, taking effect on New Year’s Day, to “maintain competitiveness”.
The HK$234.4 million deficit in the financial year ending on June 30 was slightly lower than the loss of HK$241.1 million the year before, but attendance figures dropped 4.03 per cent to 5.8 million. Revenue remained unchanged at HK$1.61 billion.
From January 1, entrance fees will be raised to HK$480 for adults and HK$240 for children.
This was a smaller increase than on January 1 this year, when ticket prices jumped 13.8 per cent.
Hong Kong’s Ocean Park: dated and fake, or a conservation champion?
“The loss is mainly due to the market environment, as well as peripheral factors, which the park has been striving to combat alongside industry peers and the retail sector,” Ocean Park chairman Leo Kung Lin-cheng said.
