Ocean Park Corporation has announced its financial results and highlights for the year ending 30 June 2022, with the company recording a loss of HK$1.81 billion.
Ocean Park and Water World, which launched on 21 September 2021, attracted 1.4 million visitors. Water World has welcomed 200,000 visitors since opening.
Despite the mandatory temporary closure of Ocean Park for 105 days and Water World for 128 days, Ocean Park‘s year-on-year revenue increased by 15.6 percent.
The fiscal year was “particularly challenging because of macroeconomic uncertainty, unfavourable geopolitical development, and the lack of inbound tourism due to Covid-19 restrictions”, said Ivan Wong, chief executive of Ocean Park Corporation.
“Yet the corporation demonstrated remarkable agility and creativity in designing and executing new revenue-generating initiatives,” he added.
“We successfully achieved high visitations during Halloween and Christmas with new pay-as-you-go experiences.
“At the same time, our collaboration with partners from different business sectors for events and attraction sponsorships, brand exposure, and advisory service, among others, opened up new revenue and engagement opportunities both inside and outside the park.”
Ocean Park Corporation’s overall year-on-year revenue grew by 38.5 percent. With government grants, the company recorded an operating surplus of HK$436.2 million for the year.
New revenue streams for Ocean Park
As of 30 June 2022, the corporation held bank balances and cash of approximately HK$1.31 billion. Â
Ocean Park connected with visitors through social platforms, pop-up stores, a new online shop and the metaverse, said Wong.
“Despite the difficult operating environment, the corporation has continued to innovate its offerings and generate new revenue streams to build momentum on its future strategy since its introduction in early 2021,” he added.
“The park is on track with its transformation into a resort destination grounded in nature, conservation and education and complemented by adventure and leisure to enhance the visitor experience.”
Images: Ocean Park Corporation
