Project title: Investigate the key factors behind the continuing financial deficit of Ocean Park Hong Kong starting from the fiscal year 2015/16.
Submission date
1 This consultancy report aims to identify the key factors that were causing the continuing financial deficit of Ocean Park Hong Kong (Ocean Park) starting from the fiscal year 2015/16. The critical reasons behind the significant deficits will be elucidated by evaluating the past performance of Ocean Park. To achieve this aim, four objectives will be considered. First, the attendance statistics of the park in the last ten years will be reviewed.. The attendance statistics such as the type of visitors and the visitor per capita spending will be analyzed. Secondly, the revenues generated in past years will be evaluated and compared to other renowned theme parks to compare the revenue-generating ability of Ocean Park to that of its counterparts. Thirdly, total costs including operating costs and financial costs will be separately evaluated by comparing the costs statistics to past years? statistics and to that of its counterparts. Finally, a comparative analysis will be conducted between Ocean Park, Hong Kong Disneyland and other world-renowned theme parks to evaluate the competitiveness and subjective attractiveness to the visitors of Ocean Park relative to its counterparts. Other influential factors such as macroeconomic outlook were taken into account. Both primary and secondary data will be collected and analyzed, and important performance (IP) analysis will be adopted for the investigation. Recommendations will be made based on the conclusions of the analysis. These strategic responses are believed to reposition Ocean Park as a more thrilling and attractive scenery to both local and international visitors, while operating in a sustainable and profitable way. The findings and recommendations from this report will help devise the competitive strategies that can improve Ocean Park?s performance.
Table of contents
1.0 Background????????????????????????????????4
2.0 Research Question and Objectives???????????????????????.6
3.0 Research Methods????????????????????????????……7
3.1 Research Design?????????????????????????????…7
3.2 Data Collection??????????????????????????????7
3.3 Data Analysis???????????????????????????????7
4.0 Timescales/Timelines????????????????????????????9
4.1 Gantt Chart??????????????????????????????…….10
5.0 Resources????????????????????????????????.11
5.1 Preliminary Quotation / Budgeting??????????????????????..12