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Ocean Park revenue up but deficit remains
POSTED 21 Dec 2018 . BY Luke Cloherty
The park, 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. Credit: Shutterstock.com
Hong Kong amusement park Ocean Park has seen an uplift in revenue in the financial year 2017-18 on the previous period but is still operating with a deficit.

The park reported revenue of HK$1.7bn (US$217.6m, €192.4m, £173m) during the year, a 4 per cent uplift on the previous period but its net operating deficit worsened by 2 per cent to HK$262.9m (US$33.6m, €29.8m, £26.7m) and its deficit for the year worsened by 1 per cent to HK$236.5m (US$30.3m, €26.8m, £24.1m).

A reason behind the deficit increase could lie in the company’s operating costs, which rose 4 per cent to HK$1.3bn (US$166.4m, €147.1m, £132.3m).

"During the fiscal year 2017-18, Ocean Park was on track to transform the Park into a world-class resort destination," said Ocean Park chair Leo Kung.

"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.

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Jobs   News   Products   Magazine
NEWS
Ocean Park revenue up but deficit remains
POSTED 21 Dec 2018 . BY Luke Cloherty
The park, 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. Credit: Shutterstock.com
Hong Kong amusement park Ocean Park has seen an uplift in revenue in the financial year 2017-18 on the previous period but is still operating with a deficit.

The park reported revenue of HK$1.7bn (US$217.6m, €192.4m, £173m) during the year, a 4 per cent uplift on the previous period but its net operating deficit worsened by 2 per cent to HK$262.9m (US$33.6m, €29.8m, £26.7m) and its deficit for the year worsened by 1 per cent to HK$236.5m (US$30.3m, €26.8m, £24.1m).

A reason behind the deficit increase could lie in the company’s operating costs, which rose 4 per cent to HK$1.3bn (US$166.4m, €147.1m, £132.3m).

"During the fiscal year 2017-18, Ocean Park was on track to transform the Park into a world-class resort destination," said Ocean Park chair Leo Kung.

"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.

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IAAPA has cancelled this year's Attractions Expo in Orlando and pivoted to a digital event, announcing a new virtual conference will take place on the same dates – 16-18 November.
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David & Lynn Willrich started the Company over thirty years ago, from the Audio Visual Department [more...]
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iPlayCo was established in 1999. [more...]
Alterface

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FEATURED SUPPLIER

Painting with Light pushes boundaries to create unforgettable visual concepts
Belgium-based light and video design studio, Painting with Light, will translate the story of your location into a visual experience, using the art of light architecture. [more...]
VIDEO GALLERY

Polin Waterparks & Pool Systems - Experience the experience
Have you ever wondered how the fun is created? Polin Waterparks is a global market leader in the design, manufacture and installation of waterparks and water play attractions. Find out more...
More videos:
Introducing AnimaChat! – Animalive
+ More videos  

CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

08 Oct 2020

VAC 2020 VIRTUAL (The Annual National Conference of Visitor Attractions)

Online, United Kingdom
17-23 Oct 2020

World Leisure Congress 2020

Pinggu, Beijing, China
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2020

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