Ocean park

Ocean Park suffers a 36% drop in visitors and posts a net operating loss of HK$1.1 billion

Ocean Park saw a steep 36% drop in visitor attendance to 1.4 million people and posted a net operating loss of HK$1.1 billion in the financial year that ended on June 30, 2021, compared to the previous year.

The park released its financial results and business highlights for the 2020/2021 fiscal year on Wednesday, saying it continued to weather headwinds from the Covid-19 pandemic.

In accordance with government mandates, the park temporarily closed for 146 days between July 1, 2020 and February 17, 2021, completely cutting off visitor revenue, according to Ocean Park’s statement.

“These challenges resulted in a sharp drop in visitor numbers and a 45% decline in revenue to HK$393.6 million compared to the prior fiscal year. Ocean Park Corporation recorded a net operating deficit of HK$1,111.6 million before offsetting with government financial support received during the year,” it wrote.

Meanwhile, the park said its strategic realignment efforts were creating new opportunities as it “repositioned its offerings and exploited market opportunities triggered by the new normal of enhanced health awareness and social distancing protocols.” .

Ivan Wong Chi-fai, CEO of Ocean Park Corporation, said the Ocean Park experience has been creatively redesigned, experimenting with new concepts that harness the endless potentials of the park’s unique setting, despite an operating environment always difficult.

“As a result, we have attracted new visitors, including health, sports and fitness enthusiasts, nature adventurers, pet lovers, plant and flower enthusiasts, etc. The overwhelming public enthusiasm for our new attempts showed that the park is on the right track,” Wong said.

“We are extremely grateful to the government for their financial support and for jointly formulating the future strategy for Ocean Park, these have not only enabled Ocean Park Corporation to maintain operations and launch Water World Ocean Park, but also to reinvent itself as a new hotel and leisure complex. destination,” Wong added.