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Ocean Park has plans for a drastic overhaul of its business model. Winson Wong
Opinion
Editorial
by SCMP Editorial
Editorial
by SCMP Editorial

Ocean Park must show its will to survive

  • Hong Kong’s beleaguered theme park is in need of another funding lifeline with big changes afoot should a fundamental shake-up in its business model be approved
SCMP Editorial
SCMP Editorial
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Tasked with an animal conservation mission, Ocean Park knows perfectly well the mantra of survival of the fittest. Ironically, the death knell for the 44-year-old marine theme park is ringing louder amid a changing environment. We are not talking about global warming or Covid-19, but new tourism landscapes and a failure to innovate and adapt. With the deadline fast approaching following the government’s HK$5.4 billion funding lifeline last year, the embattled entertainment giant has proposed a fundamental shake-up of its business model. But the catch is taxpayers will still have to pump in billions of dollars more before it becomes self-financing.

Under the proposal, the lower site of the park would be freed up for retail, dining and other entertainment provided by business partners with no entrance fees, while paid-for core attractions would continue on the upper section. The change, officials say, may tap into new sources of revenue while lowering commercial risks. It would no longer position itself as a theme park but focus on education and conservation.

Can Ocean Park, Hong Kong Disneyland survive the coronavirus?

This is the third funding proposal in a year. The authorities had to settle with last year’s interim funding after the initial HK$10 billion revitalisation plan was challenged by the legislature. The latest request for HK$2.8 billion, along with interest waivers and an extended repayment period for previous loans, is significantly lower, but it still seems too sweet a deal for those who are convinced that the park is a failed business.

Officials say the new model is definitely better than the one now. Unlike before, when families and friends planned for a full day at the attraction every few years, it is envisaged that more locals with a taste for shopping centres and other entertainment venues would head to the site once the HK$498 entrance fee is scrapped. However, the park would be effectively downsized and in the hands of commercially driven partners. Whether it could retain its appeal remains to be seen.

Only time can tell whether the attraction can adapt and survive. Previous setbacks make further funding no less a hard sell this time, but for an endangered home-grown brand loved by so many, Ocean Park deserves another chance.

This article appeared in the South China Morning Post print edition as: Ocean Park should show will to survive
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