Hong Kong Observation Wheel to reopen with HK$20 rides, down from HK$100
New tenant will partner with insurance giant to also build a wellness park at the site
The troubled Hong Kong Observation Wheel will reopen with rides priced at a fifth of the original cost at HK$20, according to its new operator, which announced a three-year tenancy on Wednesday.
The Entertainment Corp Ltd (TECL) said there would be discounts for the elderly, while children under the age of three would ride for free.
In a statement, the company said it was partnering with insurance giant AIA Group to operate the wheel and the date for an official opening ceremony would be announced in the coming weeks.
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“The wheel will be enhanced by an adjoining, newly created AIA Vitality Park, resulting in a unique destination for visitors to the Central Harbourfront,” TECL said in the statement.
“The park will host, free of charge, a range of health and wellness-related activities and events for the public, starting in 2018 and throughout the year.”
TECL’s CEO Michael Denmark said the partnership was formed because AIA and his company had a shared vision for the landmark.
“Making Hong Kong’s spectacular harbourfront and internationally recognised skyline more accessible and vital to everyone is our common objective,” Denmark said.
Lawmaker for the tourism sector Yiu Si-wing said the lower price was a good thing, but expressed concern that it could result in long queues for the ride. He urged the operator to raise ticket prices during peak hours, such as at weekends, to manage the flow of visitors.
“The tourism industry welcomed the new price as it will definitely attract more visitors and locals,” Yiu said. “But if visitors end up having to wait for a long time, their travel experience will of course be affected.”
Yiu also said he believed the operator could struggle to recoup its investment if it charged such low prices, and it would have to rent parts of the venue to restaurants and gift shops for extra income.
A spokesman for the Electrical and Mechanical Services Department said it had received the application for a permit to use and operate the wheel, but the request was still being processed as not all the necessary documents had been submitted.
