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New Price Structure for Admission Tickets Effective 1 Sep 2013 To Meet 33% Rise in Operating Costs Over Past 2 Years 15% Discount for Hong Kong Residents from 1 Sep to 31 Oct Special Price on Selected Summer Nights in July and August and Annual Pass Pri

2013-06-28

(Hong Kong, 28 June 2013) Ocean Park’s current price structure has been in place since 9 October 2011. During the past two years, Ocean Park has expanded the number of rides, attractions and shows offered to over 85 and was recently recognised for providing the best theme park experience in the world by being named the 2012 Applause Award winner, the most prestigious accolade in the theme park industry worldwide. During this same period, the Park also experienced a 33% increase in operating costs as additional staffing and resources were needed to operate the Park and the new attractions launched under the now completed Master Redevelopment Plan (MRP).

It is imperative that Ocean Park continues its prudent financial management philosophy so as to properly manage this world class facility, meet loan servicing obligations, fund strategic capital expenditures to improve existing attractions and maintain reserves to handle contingencies in the future. Therefore, Ocean Park today announced a new price structure for admission tickets that will take effect on 1 September 2013. In support of the local community which has contributed greatly to the overall success of the Park over the years, a number of initiatives will be implemented during the transition of the price amendment.  The current Smartfun annual pass prices will remain unchanged until 01 January 2014 and we encourage Hong Kong residents to take advantage of this savings to have multiple visits throughout the year. During the first two months under the new pricing, i.e. September and October, all Hong Kong residents purchasing a full price adult or child ticket will receive a 15% discount. During the summer months, Ocean Park will launch a “Summer Nights” promotion during which the Park will extend operation hours to 10 p.m. on all Saturdays and Sundays between 20 July and 25 August. Visitors can also take advantage of a special discounted price of $160 to enter the Park on these nights from 5pm onwards.

The Park will also continue to offer a number of community care programmes throughout the year for the local Hong Kong citizens – the largest portfolio of such programmes among comparable theme parks worldwide. For local Hong Kong citizens, these include free admission on their birthday; free admission for senior citizens aged 65 years or over; free entry for local people holding the registration card for people with disabilities, and half price for one care provider; and $20 admission for individuals and members of families receiving assistance from the CSSA Scheme. During the financial year 2012/13, over 550,000 Hong Kong residents enjoyed complimentary or greatly discounted admission to Ocean Park.  Aside from initiatives that are on-going throughout the year, the Park also conducts many other ad hoc community service events with donations which benefit a variety of charities and the Ocean Park Conservation Foundation, Hong Kong (OPCFHK).  All together, the value forgone by Ocean Park during the financial year exceeds $150 million.*

Dr. Allan Zeman, Chairman of Ocean Park, said, “The Board of Directors and Management have worked hard to keep the adjustment to a minimum. However, as a self-financed, not-for-profit organisation, we need to continuously maintain a proper balance in the price structure so that we do not become a burden to taxpayers. We are glad to note that the new structure will remain the lowest among comparable theme parks in the region. More importantly, the Hong Kong public will continue to enjoy various community care programmes (please refer to Appendix I).”

Click HERE to download the New Price Structure for Admission Tickets effective on 1 September 2013.

Click HERE to download the New Price Structure for SmartFun Annual Passes effective 01 January 2014.

Dr. Zeman added, “An increasing number of local guests have chosen to purchase annual passes as the price equates approximately to the admission for three visits and the Gold pass offers unlimited year-round admission. We have chosen to maintain the existing price structure for Smartfun annual passes until 01 January 2014 so that the local community can take advantage of this excellent product at a savings to visit us multiple times throughout the year to enjoy all the new attractions and our seasonal events.”

New Themed Areas Brought Total Rides, Shows and Attractions to Over 85

New themed areas that were launched since September 2011 include Old Hong Kong and the Hong Kong Jockey Club Sichuan Treasures, as well as Thrill Mountain and Polar Adventure which represent the conclusion of the Park’s HK$5.55 billion 6-year Master Redevelopment Plan (MRP). Since the start of the expansion, Ocean Park has quadrupled its staff size, reaching the current level of around 2000 dedicated professionals. The launch of new attractions and staff expansion contributed to a continuous rise in operating costs, which saw a 33% increase between 2011/12 and 2012/13 fiscal years and a further 12% increase is expected in the 2013/14 fiscal year, which will commence on 1 July 2013. Other key cost factors include on-going capital investments to improve park facilities and enrich the guest experience, as well as the cost of servicing debt incurred for new attractions that had opened under our MRP.

Steadfast Commitment to Education and Conservation

Ocean Park continues to play a vital role in local education through its Ocean Park Academy, Hong Kong. During the 2012/13 fiscal year, which will be ended on 30 June 2013, a record high of over 60,000 local students, ranging from kindergarten (age 3-5) to secondary 4-6 (age 15-17), took part in some 2,400 courses, delivered under 33 different programmes.

As a leading advocate for nature conservation, Ocean Park enthusiastically continues its support of OPCFHK by donating a portion of admission revenue, proceeds from panda merchandise sales and guest programme fees, as well as the entirety of admission revenue from our annual Conservation Day each year in January. The total donation from Ocean Park to OPCFHK is over HK$13 million in the 2012/2013 fiscal year. In turn, OPCFHK supports critically needed conservation research and projects across Asia.

Ocean Park plans to open in 2014 two new attractions: Shark Mystique, the region’s only aquarium dedicated to the display of sharks; and Adventures in Australia, a walk-through exhibit featuring koalas and other wildlife species from South Australia. The Ocean Hotel and the waterpark development, both proceeding smoothly, are expected to bring economic and employment opportunities to Hong Kong. (For details of Ocean Park’s contributions to the Hong Kong economy, please refer to Appendix II.)

Dr. Zeman concluded, “As we continue to develop as a world-class theme park and premier resort destination, we are committed to offering our guests the best price value proposition. I encourage everyone to visit us during our upcoming Summer Splash presentation for all the water-themed attractions to beat the summer heat and take advantage of the discounted weekend night ticket offer this summer!”

*All figures for the financial year 2012/2103 are unaudited.

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