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Ocean Park today announced its financial results for the 2017/18 fiscal year ending 30 June 2018. The Park recorded revenue of HK$1,686.2 million for the year, up 4% year-on-year from HK$1,619.8 million in 2016/17. Attendance numbers remained stable at 5.8 million visitors with a 4% growth in revenue per visitor year-on-year. The Park also announced plans for new edutainment offerings, including a 3D light show, enriched Science, Technology, Engineering, the Arts and Mathematics (STEAM) and conservation education programmes, a technology-driven learning hub, and education tourism programmes including inbound and outbound ecotours.
“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,” said Leo Kung, Chairman of Ocean Park.
Due to more investment in entertainment and hospitality offerings, a rise in facility maintenance costs and other operating costs, as well as ongoing financial commitments and high depreciation, the Park experienced a net deficit at HK$236.5 million. The enthusiastic response to the Park’s night-time retail, dining and entertainment offerings along with the expanded year-round events helped counter the adverse impact of weather over the course of the fiscal year. Free Independent Traveller (FIT) guests were up year-on-year by approximately 11% as a result of the Park’s vigorous promotional efforts in mainland China and other key markets in Asia. This increase, however, was offset by a decline in tour group attendance in the second half of the fiscal year. Total overseas guest numbers remained relatively stable.
In the 2017/18 fiscal year, Ocean Park completed a total of 18 social care programmes that produced a benefit value equivalent to over HK$186 million, serving close to 460,000 beneficiaries from the local community. Besides, the Park donated about HK$11 million to Ocean Park Conservation Foundation, Hong Kong in 2017/18 to conserve Asian biodiversity.
Making Good Use of HK$310 million Funding from Government
In a move to present an exceptional resort entertainment experience to guests and take its conservation education work to a whole new level, Ocean Park plans to use the HK$310 million funding announced in the Government’s 2018/19 Budget on a variety of tourism promotion and education initiatives. The headline initiative is the creation of a signature evening and multimedia show that will become an all-new tourism offering for Hong Kong. Produced by Moment Factory, an award-winning multimedia and entertainment studio specialising in the conception and production of immersive environments combining video, lighting, architecture, sound and special effects to create remarkable experiences, the new show will immerse audiences into a creative destination and animal conservation narrative through breathtaking multimedia effects and performances that meld with the Park’s scenic Aqua City Lagoon and skyline.
Ocean Park views education as an integral part of its mission and a critical differentiator from its competitors. As a result, another key focus area under the Government’s support is education. Part of the funding will be used to enhance the Park’s existing education programmes, as well as go towards new conservation education and education tourism initiatives. Implementation of these initiatives will range from in-Park conservation education programmes, community outreach, education kits and reading days for kindergartens featuring the Park’s mascots Whiskers & Friends, to ecotourism programmes that bridge ex-situ and in-situ conservation.
An example of a future ecotourism initiative will see Park guests accompany Ocean Park’s panda education experts, on the first ecotour from Hong Kong to the home of the giant panda in Wolong, Wenchuan, Sichuan. Participants will track wild giant pandas in restricted conservation areas at the Wolong National Nature Reserve that require special access. To promote the development of education tourism in Hong Kong, the Park will also introduce study tours around themes such as rainforest biodiversity, marine biodiversity and energy, as well as summer and winter camps for overseas students, inbound holiday camps, and credit-bearing programmes in collaboration with local and overseas universities.
New Technology-Driven Education Hub
In addition, funding will be allocated to the establishment of an advanced STEAM education hub at the Park. The plan is to set up a technology-enabled, highly immersive and interactive learning centre to promote the conservation of natural habitats, ecosystems and biological diversity through STEAM learning. This STEAM education hub, scheduled to launch in 2020/21, will be created especially for families with kids aged three to nine. Designed to inspire the younger generation to appreciate biodiversity, the education hub will see a number of workshops and education modules rolled out that empower children to learn about the conservation of animals, plants and habitats through the application of STEAM and a creative journey of self-discovery.
A Park for Hong Kong’s Future
The Park’s long-term investment strategy of building an international resort destination is now close to achieving its goal with the Hong Kong Ocean Park Marriott Hotel having had a soft opening in late October, and a year-round, all-weather Ocean Park Water World and The Fullerton Ocean Park Hotel Hong Kong also set to open in the next few years.
In a forward-looking move, the Park is now reviewing its strategic positioning with a view to taking the guest journey, resort engagement, in-resort experience and after-visit experience to the next level. The comprehensive assessment encompasses future consumer trends, target consumers, expectations on the resort entertainment experience, market dynamics and competition, facilities, service and product offerings, marketing and human resources.
“As an iconic destination in Hong Kong, Ocean Park seeks to synergise with the Government’s Development Blueprint for Hong Kong’s Tourism Industry to further the growth of the Park and contribute to the long-term success of the economy. Being Hong Kong’s unique home-grown resort destination and community asset, we will continue to service Hong Kong through conservation education and social care endeavours,” said Kung.
“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,” said Leo Kung, Chairman of Ocean Park.
Due to more investment in entertainment and hospitality offerings, a rise in facility maintenance costs and other operating costs, as well as ongoing financial commitments and high depreciation, the Park experienced a net deficit at HK$236.5 million. The enthusiastic response to the Park’s night-time retail, dining and entertainment offerings along with the expanded year-round events helped counter the adverse impact of weather over the course of the fiscal year. Free Independent Traveller (FIT) guests were up year-on-year by approximately 11% as a result of the Park’s vigorous promotional efforts in mainland China and other key markets in Asia. This increase, however, was offset by a decline in tour group attendance in the second half of the fiscal year. Total overseas guest numbers remained relatively stable.
In the 2017/18 fiscal year, Ocean Park completed a total of 18 social care programmes that produced a benefit value equivalent to over HK$186 million, serving close to 460,000 beneficiaries from the local community. Besides, the Park donated about HK$11 million to Ocean Park Conservation Foundation, Hong Kong in 2017/18 to conserve Asian biodiversity.
Making Good Use of HK$310 million Funding from Government
In a move to present an exceptional resort entertainment experience to guests and take its conservation education work to a whole new level, Ocean Park plans to use the HK$310 million funding announced in the Government’s 2018/19 Budget on a variety of tourism promotion and education initiatives. The headline initiative is the creation of a signature evening and multimedia show that will become an all-new tourism offering for Hong Kong. Produced by Moment Factory, an award-winning multimedia and entertainment studio specialising in the conception and production of immersive environments combining video, lighting, architecture, sound and special effects to create remarkable experiences, the new show will immerse audiences into a creative destination and animal conservation narrative through breathtaking multimedia effects and performances that meld with the Park’s scenic Aqua City Lagoon and skyline.
Ocean Park views education as an integral part of its mission and a critical differentiator from its competitors. As a result, another key focus area under the Government’s support is education. Part of the funding will be used to enhance the Park’s existing education programmes, as well as go towards new conservation education and education tourism initiatives. Implementation of these initiatives will range from in-Park conservation education programmes, community outreach, education kits and reading days for kindergartens featuring the Park’s mascots Whiskers & Friends, to ecotourism programmes that bridge ex-situ and in-situ conservation.
An example of a future ecotourism initiative will see Park guests accompany Ocean Park’s panda education experts, on the first ecotour from Hong Kong to the home of the giant panda in Wolong, Wenchuan, Sichuan. Participants will track wild giant pandas in restricted conservation areas at the Wolong National Nature Reserve that require special access. To promote the development of education tourism in Hong Kong, the Park will also introduce study tours around themes such as rainforest biodiversity, marine biodiversity and energy, as well as summer and winter camps for overseas students, inbound holiday camps, and credit-bearing programmes in collaboration with local and overseas universities.
New Technology-Driven Education Hub
In addition, funding will be allocated to the establishment of an advanced STEAM education hub at the Park. The plan is to set up a technology-enabled, highly immersive and interactive learning centre to promote the conservation of natural habitats, ecosystems and biological diversity through STEAM learning. This STEAM education hub, scheduled to launch in 2020/21, will be created especially for families with kids aged three to nine. Designed to inspire the younger generation to appreciate biodiversity, the education hub will see a number of workshops and education modules rolled out that empower children to learn about the conservation of animals, plants and habitats through the application of STEAM and a creative journey of self-discovery.
A Park for Hong Kong’s Future
The Park’s long-term investment strategy of building an international resort destination is now close to achieving its goal with the Hong Kong Ocean Park Marriott Hotel having had a soft opening in late October, and a year-round, all-weather Ocean Park Water World and The Fullerton Ocean Park Hotel Hong Kong also set to open in the next few years.
In a forward-looking move, the Park is now reviewing its strategic positioning with a view to taking the guest journey, resort engagement, in-resort experience and after-visit experience to the next level. The comprehensive assessment encompasses future consumer trends, target consumers, expectations on the resort entertainment experience, market dynamics and competition, facilities, service and product offerings, marketing and human resources.
“As an iconic destination in Hong Kong, Ocean Park seeks to synergise with the Government’s Development Blueprint for Hong Kong’s Tourism Industry to further the growth of the Park and contribute to the long-term success of the economy. Being Hong Kong’s unique home-grown resort destination and community asset, we will continue to service Hong Kong through conservation education and social care endeavours,” said Kung.
