Hong Kong’s Ocean Park plans to repay debt as visitor numbers soar
Photo Credit: A view of Hong Kong's Ocean Park from the top of the gondola ride. Flickr / Xiquinho Silva
Skift Take
The loans allow Ocean Park to add new attractions as well as Wi-Fi and smartphone apps that will the park competitive as global theme park visitor numbers continue to climb in 2013.
Ocean Park Corp., the operator of one of Hong Kong’s major tourist attractions, has reached an agreement with the city’s government to begin paying back HK$2.3 billion ($296 million) of debt from 2021 after its current bank loans are repaid.
The HK$2.3 billion facility will be subordinate to the company’s existing $720 million of debt, Chief Executive Officer Tom Mehrmann said in an interview in Singapore, where he was attending the Asian Attractions Expo.
The loan repayment conditions are “favorable” and
