Latest News

Back to Latest News back

 

Revenue rises but deficit remains at Ocean Park Hong Kong

Revenue rises but deficit remains at Ocean Park Hong Kong
February 18, 2019

Hong Kong theme park Ocean Park has reported an increase in revenue in the financial year 2017/18 but is still operating with a deficit.

The popular theme park reported revenue of HK$1.7 billion (US$217.6 million) during the year, a 4% uplift on the previous period but its net operating deficit worsened by 2% to HK$262.9 million (US$33.6 million) and its deficit for the year worsened by 1% to HK$236.5 million (US$30.3 million).

Local media reports suggest that a reason behind the deficit increase could lie in the company’s operating costs, which rose 4% to HK$1.3 billion (US$166.4 million).

Commenting on the performance, Ocean Park Chair Leo Kung advised “during the fiscal year 2017/18, Ocean Park was on track to transform the Park into a world-class resort destination.

"The revenue growth in 2017/18 reflects the huge efforts we have undertaken to diversify the Park’s revenue streams. In the past year, we have elevated our entertainment and night offerings, broadened education scope by incorporating STEAM concepts and stepped up our efforts to appeal to new market segments.

"The park’s evolution has also seen the adoption of new technologies to enhance the guest experience, and a widened food and beverage portfolio."

The attraction, which incorporates a marine mammal park, oceanarium, animal theme park and amusement park, saw 5.8 million visitors arrive through its doors in the year.

Related Articles

4th February 2019 - Hong Kong Disneyland fosters family volunteerism

20th August 2018 - Hong Kong leisure projects hit by building delays

1st March 2018 - Hong Kong’s Ocean Park to get HK$310 million Government bail out

18th September 2017 - Ocean Park Hong Kong closes Halloween-themed haunted house after guest death

3rd June 2017 - Global Theme Index shows mixed attendance trends for theme parks

24th September 2016 - Ocean Park Chief Executive confident of attracting more visitors

7th November 2015 - Ocean Park waterpark to make a splash in 2018

29th August 2015 - No Wi-Fi but Hong Kong’s Ocean Park is among world’s riskiest attractions for phone hacking


Support our industry news service
We hope that you value the news that we publish so while you're here can we ask for your support?

As an independent publisher, we need reader support for our industry news gathering so ask that - if you don't already do so - you back us by subscribing to the printed Australasian Leisure Management magazine and/or our online news.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

InterQuad (International Quadratics) 

InterQuad (International Quadratics)  With a combined legacy spanning over 150 years, International Quadratics (founded in 1976) and Pierce Pool Supplies (originally established in 1898 as A H…

read more

Aquatics / Safety / Technology / Waterparks

 
 

Chadson Engineering Pty Ltd

Australia’s leading manufacturer of horizontal and vertical media filters suited to all types of commercial pools, water playgrounds marine parks, aquaculture and zoos. They are an ideal…

read more

Aquatics / Technology / Waterparks

 
 

LIFE FLOOR (Aus & NZ)

Our team believes floors should be beautiful, comfortable, and engineered for safety, even when wet. Life Floor tiles meet six unique performance based standards: slip-resistance, impact absorption,…

read more

Aquatics / Play / Recreation / Safety / Surfaces

 
 

Otium Planning Group

Otium Planning Group is a contemporary sport and leisure consultancy providing services in planning, facility development, management and funding for the sport, recreation and leisure industries…

read more

Aquatics / Consultants / Recreation / Sport / Venues

 
 

AIS Water

AIS Water, the trading name of Australian Innovative Systems, is a multi-award winning, Australian owned leader in the design, production and supply of commercial and residential chlorine generators…

read more

Aquatics / Safety / Technology

 
 

TICKETSERV

As of 2018, TicketServ operates as SeatGeek Asia Pacific Pty Limited, part of international ticketing platform SeatGeek. Click here to contact SeatGeek Asia Pacific via their entry in…

read more

Attractions / Entertainment / Events / Sport / Ticketing

 
 

ProSlide Technology

ProSlide is the global leader in water ride design and manufacturing, supplying high-performance water attractions to new and expanding water parks around the world. For over three decades, ProSlide…

read more

Aquatics / Play / Waterparks

 
 

@leisure Planners

@leisure is a team of experienced leisure, aquatic and sports facility managers and planners, with market modelling, sports management, recreation planning, business and GIS qualifications. We have…

read more

Consultants

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business