Initiatives by Hong Kong’s theme parks to expand their resorts and hotels business will prompt more locals to spend their weekends in the city, rather than make weekend getaways across the border, according to a hotel industry association.
The launch of new resort hotels at Ocean Park and Hong Kong Disneyland in 2017 could spark a local tourism trend like what is evident in Japan and Thailand, said James Lu, executive director of the Hong Kong Hotels Association.
With new facilities, Hong Kong people who often spend their weekends in Macau and the mainland could be lured into staying back in the territory, boosting the occupancy rates of local hotels, the Hong Kong Economic Journal quoted Lu as saying.
Locals are currently said to account for only about 5 percent of the room occupancy at Hong Kong hotels.
Hong Kong Disneyland is putting up a third resort hotel, in a project that involves total investment of HK$4.3 billion. About HK$600 million is being invested by the Hong Kong unit itself, while the rest of the money is coming from the Hong Kong government and Walt Disney Co.
The Hong Kong government intends to swap its HK$1.7 billion existing lending to Hong Kong Disney into equity and extend an extra HK$800 million of loan to the theme park, with a view to supporting the investment and maintaining its 52-percent controlling stake.
Meanwhile, Ocean Park is mulling a new resort to complement the opening of its new water park in 2017. The two new resorts of the theme parks will provide more than 1,100 rooms in total.
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