Ocean Park Hong Kong has posted a surplus of HK$118.5 million ($15.2m) in its financial results for the fiscal year ended 30 June 2023.
Via a statement, Ocean Park is attributing the surplus to its ongoing transformation into a resort destination with a focus on conservation and education, as well as the full reopening of Hong Kong’s borders in the first quarter of this year.
“Creativity and innovation in the way we propelled our future strategy have contributed to improvement in business performance,” said Paulo Pong, chairman of Ocean Park Corporation.
He added: “Our ceaseless efforts in actualising entrepreneurial ideas, curating meaningful visitor experiences, revamping our operating model, managing costs and streamlining our operations are paying off, especially with an improvement in market sentiment after Hong Kong reopened its borders during the fiscal year.”
A total of 2.4 million people visited Ocean Park and Water World during the last fiscal year, an increase of more than 45 percent compared to the previous year.
Revenue increased 54 percent year-on-year from HK$545.1 million to HK$839.1 million, and revenue per capita recorded a 6 percent year-on-year rise.
Additionally, admission income increased by 57 percent, merchandise income by 55 percent, catering income by 39 percent, and other in-park spending by 63 percent.
Ocean Park’s post-Covid recovery
Paulo said the last fiscal year “reflected Ocean Park Corporation’s momentum of recovery post-Covid while we amplified our influence in conservation, education and social inclusion”.
He continued: “We could not have achieved this without the government’s strong support and collective efforts of everyone on our team who enabled the smooth resumption of normal operations amid a tight labour market.
“The road ahead will remain challenging due to volatile global economic conditions and intense competition in the tourism market. We will continue to play to our strengths as we move forward on the path to long-term sustainability under the future strategy for Ocean Park.”
Images courtesy of Ocean Park Corporation
