HONG KONG: Ocean Park Chairman Allan Zeman said yesterday it is likely that a planned admission fee increase for the amusement park will be deferred. The matter will come up at a board meeting later this week.

Ocean Park has been under some pressure from lawmakers on the economic development panel, to keep the fees unchanged until after the summer holidays.

Zeman in response said a delay is possible for a month or two but he must consult with directors.

"I hope we will have a good result for everybody once we finish the board meeting, which will be (held) very shortly," he told reporters.

There is "a very good chance" the board will approve the delay until October as board members are responsible people, he added.

Yet the park will suffer a loss if it delays the fee increase. Zeman said last week that it might cost about HK$11 million for every month that the admission increase is deferred.

He reiterated that it is inevitable that the park must charge higher entrance fees to repay the debt and interest expenses on its HK$5.5 billion redevelopment project. Beginning in 2011, the park will be required to repay loan principal and interest of about HK$300 million annually.

The 20-percent admission fee hike had been planned for implementation next month. Adults would pay HK$250, as compared to HK$208 now, while the admission fee for children will go up from HK$103 to HK$125.

Annual passes will also cost about 10 to 14 percent more. Yet Comprehensive Social Security Assistance recipients still will be able to visit the park for only HK$20.

The park raised the admission price by 3 percent and 12 percent in 2004 and 2007, respectively.

"Nobody on the board wants to raise the price, (but) we have no choice," Zeman said.

He also did not want to seek financial support from the government if the park loses money.

It is a difficult time for everybody now, but the theme park is value for money, the chairman said, noting that Disneyland is still more pricey than Ocean Park.

(HK Edition 07/28/2009 page1)