Appointment of Most Preferred Proponent
for the Development of The Fullerton Hotel @ Ocean Park

Ocean Park today announces the appointment of Parkland (Hong Kong) Limited (“Parkland”), a consortium of Sino Land Company Limited and Empire Group Holdings Limited, as the Most Preferred Proponent (“MPP”) for the development and operation of Ocean Park’s upcoming hotel, The Fullerton Hotel @ Ocean Park (formerly known as Fisherman’s Wharf Hotel). Upon the official appointment as the successful proponent and official developer for The Fullerton Hotel @ Ocean Park, Parkland will enter into a hotel management agreement with Sino Hotels (Holdings) Limited or its wholly-owned subsidiary for the operation and management of The Fullerton Hotel @ Ocean Park.

Mr Tom Mehrmann, Chief Executive of Ocean Park, said, “The Fullerton Hotel @ Ocean Park, with a total gross floor area of approximately 40,570 square meters, will be built in Tai Shue Wan. We are thrilled to have reached this point in the process, as it has been a rigorous and comprehensive exercise. Throughout the tender process, independent consultants were appointed to provide independent and professional advice on the assessment of all hotel proposals based on a pre-determined scoring system. In the end, Parkland was selected because it has achieved and exceeded the passing scores under the technical evaluations on design excellence, financial strength and management credentials. I look forward to embarking on this exciting and ambitious project with them after they have fulfilled all planning approval conditions.”

Ocean Park, together with the MPP, will shortly be in consultation with the Southern District Council, and thereafter, make a submission to the Town Planning Board as required for the final approval of the existing planning permission for the hotel development. Upon fulfilment of all planning approval conditions and approval of general building plans, the Board of Ocean Park will confirm the successful proponent and official developer for The Fullerton Hotel @ Ocean Park, which is expected to break ground in 2017 and be completed and opened to public in 2020. The expected total capital commitment of Parkland for The Fullerton Hotel @ Ocean Park project is approximately HK$3 billion.

During the tender process, declarations of interest were made by all relevant Board Members of Ocean Park. Those Board Members with any interest in any of the parties submitting tenders did not take part in any deliberation, assessment or scoring of the tenders, while the Independent Commission Against Corruption (“ICAC”) was engaged to provide input on and review the tender procedures and observe the scoring process.

The establishment of The Fullerton Hotel @ Ocean Park will reinforce Hong Kong’s image and competitiveness as a tourism destination, and bring economic benefits to the Southern District. With the completion of the Master Redevelopment Plan and the opening of a number of new world-class attractions from 2012 onwards, The Fullerton Hotel @ Ocean Park will be another significant milestone for both Ocean Park and Hong Kong, as it provides convenient accommodations for guests spending multiple days at Ocean Park and the forthcoming Water World, and transforms Hong Kong’s People Park into a premier international resort destination and further fulfils its role as a major pillar of the city’s tourism industry.

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