Ocean Park gets bailout from Hong Kong government
Hong Kong’s loss making Ocean Park is to receive a cash injection from the government.
The park will get one-off bailout of HK$310m (US$39.6m) which will be earmarked to ‘develop education and tourism projects.’
The park has been in the red for the past two years and in FY2017 posted a loss of HK$234m (US$29.9m).
"It is vital for large-scale theme parks to make sure their attractions can continuously lure visitors," said Hong Kong finance secretary Paul Chan.
It forms part of a HK$706 million package to improve tourism facilities and infrastructure.
As part of the bailout, the park will distribute 10,000 free tickets to local schools.
The park’s first on-site hotel, the Hong Kong Ocean Park Marriott opens this summer.
The handout was criticized by Hong Kong First lawmaker Claudia Mo who said the government should not be funding the park and should instead be pushing to improve the standards of animal welfare.
Ocean Park Ocean Park is home to a marine mammal park, oceanarium, animal theme park and amusement park.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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