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Ocean Park Improves Revenue and Narrows Deficit in Fiscal Year Ending 30 June 2017

2017-12-13

New admission fee scheme effective 1 January 2018 and exclusive birthday discounts for Hong Kong residents throughout the year

Ocean Park today announced its financial results for the 2016/17 fiscal year ending 30 June 2017. The Park generated a slight increase in revenue to HK$1,619.8 million, while narrowing its deficit to HK$234.4 million despite a marginal dip in park attendance to 5.8 million.
 
"In fiscal year 2016/17, Ocean Park saw single-digit growth in the frequent individual travellers' (FIT) segment amid intensifying competition from neighouring tourist destinations," said Leo Kung, Chairman of Ocean Park. "We also achieved encouraging year-on-year growth from key source markets, including Japan, Indonesia, the Philippines and South Korea.
 
"Thanks to the 40th Anniversary programmes, iconic promotions, new events and community engagement which tapped local support to boost attendance figures, Ocean Park was able to minimise the impact of peripheral factors affecting the tourism and retail industries."
 
Capitalising on the extension of the Mass Transit Railway onto its doorstep, Ocean Park launched the Lakeside Chill al fresco dining area in January 2017 and inaugurated the evening entertainment event Chill Out @ The South in March 2017. Both were highly successful in boosting the numbers of local visitors and attracting young adults aged 18-34.    
 
New admission fees effective 1 January 2018
"While we are proud of our accomplishments in 2016/17, the operating environment remains challenging despite active steps taken to broaden the Park's revenue streams and maximise visitor numbers," said Kung. "Ocean Park is managing complexity and change in a competitive landscape characterised by reinvestment and expansion of large scale theme parks across Asia, as well as numerous new theme park launches and development projects in the pipeline."
 
To maintain competitiveness through investment and facility enhancement, balance cost pressures and keep the Park's finances sustainable, Ocean Park will implement a new pricing scheme that will take effect on 1 January 2018. The new rates represent an average increase of around 9% for general admission.
 
Daytime admission tickets for adults and children (aged 3-11) will be adjusted to HK$480 and HK$240 respectively, while prices for SmartFun annual passes will remain unchanged. Hong Kong residents can enjoy 2017 rates until 28 February 2018.
 
15% exclusive birthday discount for locals
As a token of appreciation for Hong Kong people, Ocean Park is launching an amazing birthday discount for Hong Kong residents to enjoy the theme park to the full. From 1 January to 31 December 2018, holders of Hong Kong identification documents can purchase up to four Ocean Park tickets at a 15% discount off the published rates during their birthday month while they also enjoy complimentary admission on their birthday. The offer will be valid once for each eligible guest. Consumers can visit https://www.oceanpark.com.hk for full details of the 2018 admission fee changes as well as the promotion details of the birthday discount for Hong Kong residents. Terms and conditions apply for this promotion.
 
Free night-time admission to celebrate the holidays
In addition, Hong Kong people are invited to join in the Christmas cheer and herald in the New Year at Ocean Park with family and friends. For ten days from 23 December 2017 to 1 January 2018, visitors can enter the Park for free from 7pm to 11pm to experience Ocean Park's Christmas Sensation at Waterfront Plaza and the Lakeside Chill, including Ocean Park x Pinkoi Festive Marketplace, Santa's Cottage and Garden of Romance.
 
Those looking for a truly unique festive dining experience can savour a Christmas Feast at Neptune's Restaurant – Hong Kong's only fine dining location in an aquarium setting. Neptune's Christmas Feast comes with free Park admission from 7pm onwards on the designated dates of 17, 23-29 and 31 December 2017.     
 
One step closer to an international resort destination
As Ocean Park marks 40 years in Hong Kong, there is a firm focus on staying ahead of the game by transforming the Park from a theme park to a premier international resort destination with new highlights and hotel accommodation.
 
"We are now set to unveil the next phase of Ocean Park's strategic development. This will include the opening of the 471-room Hong Kong Ocean Park Marriott Hotel in mid-2018, the launch of the year-round, all-weather Water World in 2019, and completion of The Fullerton Ocean Park Hotel Hong Kong by 2021," said Kung.

An important education, conservation and community pillar
In addition to elevating its entertainment experiences, Ocean Park also took its education, conservation and community influences to new levels in 2016/17.
 
The Park sharpened its educational focus by embedding experiential learning and explorative approaches in its educational offerings and increasing public and youth engagement in STEM education. The Park’s new educational programmes, such as "Adventure Camps", "Get Closer to the Animals" and  "Trainer's Talk", were all designed to empower participants to better appreciate the natural environment and develop supportive attitudes towards conservation in the long term.
 
At the same time, the Park continued to connect its efforts in ex-situ education with in-situ conservation. Thanks to funding support from The Hong Kong Jockey Club Charities Trust, Ocean Park launched an all-new wildlife conservation initiative entitled the "Jockey Club Giant Panda Junior Volunteer Programme" in October 2016 in collaboration with the China Conservation and Research Centre for the Giant Panda and Sichuan Wolong National Nature Reserve Administration. Another notable in-situ initiative was a "Youth Internship Programme" in Wolong sponsored by the Home Affairs Bureau that brought 15 Hong Kong students to Wolong for a six-week internship.
 
As always, Ocean Park is committed to conservation and fostering support for it among the local community. In the last fiscal year, Ocean Park donated HK$12.27 million to the Ocean Park Conservation Foundation, Hong Kong, which will support 28 projects across 11 countries and involve 40 animal species in the next funding cycle.
 
Being a pillar of Hong Kong means community care initiatives are a high priority for Ocean Park. During the 2016/17 fiscal year, over 446,000 Hong Kong residents enjoyed complimentary or generously discounted admission to Ocean Park, which produced a benefit equivalent to over HK$182 million for the community.