Ocean Park Appoints Capital Court Limited as Successful Proponent of Ocean Hotel Project Construction to Start in late 2014 and Expected to be Completed by 2017

Ocean Park today announced the appointment of Capital Court Limited (CCL), a wholly owned subsidiary of Lai Sun Development Company Limited (“Lai Sun”), as the successful proponent of the Ocean Hotel Project. This latest step follows the Town Planning Board’s approval of the hotel design submitted by the Park. Demolition work and construction on the site near the Park’s main entrance will begin in late 2014, targeting
for completion of the Ocean Hotel in 2017.

Mr. Tom Mehrmann, Chief Executive of Ocean Park, said, “The appointment of CCL as the Successful Proponent of the Ocean Hotel project marks a major milestone in Ocean Park’s evolution into a premier international resort destination. Our gratitude goes to the Southern District community for giving us important input on the hotel design and the Town Planning Board for their approval of the hotel design. We are thrilled to work with CCL on this wonderful project, which will further enhance the tourism appeal of Ocean Park and prolong the stay of guests visiting from around the world.”

Following today’s appointment, Ocean Park and CCL will work together to complete the lease modification process. Concurrently, a Traffic Impact Assessment and plans for the traffic arrangement during the construction period will be prepared to the satisfaction of the Transport Department before beginning work on site by late 2014. In accordance with the terms of the original project tender, CCL will also enter into a Hotel Management Agreement with Marriott International for the pre-opening services, and the operation and
management of Ocean Hotel.

Mr. Chew Fook Aun, Deputy Chairman & Executive Director of Lai Sun Development Company Limited, said, “I am delighted that Lai Sun Development, as the owner of CCL, will be involved in such an important new chapter in the evolution of Ocean Park. We look forward to working closely with Ocean Park to realize the design vision of the Ocean Hotel, which will be a new world-class landmark in the Southern District.”

Located in front of Ocean Park’s main entrance with an area of about 17,000 square metres, the Ocean Hotel will feature three separate hotel wings of up to 6 storeys, with a total gross floor area of approximately 34,000 square metres and providing a total of 495 rooms. The middle of the three wings will form a central courtyard with a themed lagoon pool, children’s play area and alfresco dining sections.
Mr. Mehrmann concluded, “Ocean Hotel is a key infrastructure of Ocean Park’s ongoing development. With rail linkage via MTR’s South Island Line (East) expected to be completed in 2015 and our new waterpark slated to open in 2017, the Hotel will completely transform Ocean Park as a destination, providing top-class accommodation for guests spending multiple days to enjoy all that we offer. Ocean Park’s status as a leading international theme park will also be further strengthened. It will enhance the tourism appeal of Ocean Park and increase hotel room supply in Hong Kong, and provide another distinctive choice for
Meetings, Incentive Travels, Conventions and Exhibitions event organizers around the world.”