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Statement on Ocean Hotel Tender Closing

2013-05-10

The tender process for the development of the 495-room Ocean Hotel closed today (8 May 2013). A total of 17 developers have shown interest and 7 tender proposals were received. Ocean Park will now proceed with the assessment of tenders and clarifications with tenderers on the received proposals.
 
“We are very excited at the number of developers who have shown interest in the tender exercise and a meticulous assessment process will now be underway to determine the best proposal for the benefit of Ocean Park and the people of Hong Kong,” said Dr. Allan Zeman, Chairman of Ocean Park.
 
The new hotel will be built on a 17,044 square-metre site in front of Ocean Park’s main entrance. Tender invitations were sent out on 8 January 2013. Tender submissions will first be assessed and scored on their respective Technical Proposals, with design excellence receiving a weighting of 65%, whilst financial strength of the tenderers and hotel management credentials are assigned a 35% weighting. Submissions that exceed the passing score under the Technical Proposal assessment will be ranked in the order of the land premiums offered by them, with the tenderer proposing the highest amount to be selected as the Most Preferred Proponent. The Most Preferred Proponent will be appointed as the successful tenderer once they are able to satisfy the statutory process and requirements, e.g. Compliance with planning approval conditions; acceptance of lease modification conditions and payment of land premium, etc.

Further details will be made available to the public in due course.