Ocean Park is hoping to attract 25 percent more visitors after it opens three differently themed hotels starting in 2011.A proposal put to the financial secretary by Ocean Park planners last week met tentative approval, according to a source.
Ocean Park will now enter a period of consultation with district councils and environmental groups.
In the 2006/2007 fiscal year, Ocean Park had a record 4.92 million visitors.
The government, which owns the marine-themed amusement park, estimates that visitor numbers will reach 5.8 million in 2012 and up to 7 million in 2021 following the opening of the MTR Corp's (0066) South Island Line extension in 2015.
The extension will allow visitors to travel from Admiralty to Ocean Park in four minutes.
The park will put the construction and management of the hotels out to tender and charge operators an annual fee.
"We will decide the overall theme, but the building cost, actual development and finer details will be decided by the developers," Ocean Park chairman Allan Zeman said.
The three hotels, which together will provide have 1,280 rooms, aim to attract different clientele.
The 660-room three-star Ocean Hotel will be near the park entrance, while the 460-room four-star Fisherman's Wharf Hotel will be alongside the feature of the same name at the Tai Shue Wan entrance. The 160-room five-star Summit Hotel and Spa will be located atop the park's high point.
The tender process for the three-star property could begi
n as early as this year, with the hotel set to open in 2011. Zeman said developers had shown interest in all three projects, but he would not elaborate. Hotel room supply on Hong Kong Island is limited, with just 430 rooms going online in 2007.
Ocean Park recorded a record surplus of HK$171 million for fiscal 2006/2007 - an increase of 9 percent year on year.
Admission ticket income reached HK$620 million, accounting for around 65 percent of total revenue.
"Ultimately, we would like to have 50 percent of the revenue from admission fees, 25 percent from food and beverage and another 25 percent from retail," Zeman said.
The park is planning to increase revenue further by building a parking lot next to the MTR terminus.
Dubai and Saudi Arabia are among countries that have shown interest in building their own versions of Ocean Park. On that, Zeman said Ocean Park has studied the possibility of forming joint ventures or selling franchises.
"These are different ways to increase Ocean Park's income which doesn't require extra investment and also minimizes the possibility of having to raise the admission fee," he added.
Admission prices went up between 10 and 14 percent last October.
