Incumbent Operator, The Entertainment Corporation Limited, Awarded Tender for Hong Kong Observation Wheel

HONG KONG SAR - Media OutReach Newswire - 4 June 2024 - The Entertainment Corporation Limited (TECL), the ongoing operator of the Hong Kong Observation Wheel, is delighted to announce that it has been awarded the tender to continue operating this iconic attraction for the next five years. This achievement reflects TECL's commitment to delivering unique and accessible experiences for both local and international visitors.

Visitors will be pleased to know the exceptional value of $20 per ride will remain for the duration of this upcoming tenancy.

"It is our privilege to be able to continue our work at the Hong Kong Observation Wheel, an iconic attraction that has become synonymous with the Hong Kong skyline. In collaboration with AIA and various stakeholders of the Central Harbourfront, we aim to enhance the success of the Hong Kong Observation Wheel, promote Harbourfront vibrancy, encourage accessibility and public enjoyment, as well as make green and sustainable enhancements to the venue. We look forward to sharing more about these exciting plans in the coming months and to showcase our vision for this much-loved Hong Kong icon," said Mr Randy Bloom, Chief Executive Officer of The Entertainment Corporation Limited.

Building upon previous achievements, TECL are honoured to extend their partnership with AIA Group ("AIA"), the leading pan-Asian life and health insurer. AIA is the exclusive Title Sponsor of the Hong Kong Observation Wheel. Through the partnership the ticket price was reduced from HK$100 to HK$20 in 2017, making it more accessible to the public. The creation of AIA Vitality Park and the AIA Vitality Hub has transformed the destination into a vibrant, iconic landmark with multi-dimensional events and experiences.

"We are very delighted to extend our sponsorship of the Hong Kong Observation Wheel which is now synonymous with Hong Kong's famous harbourfront and skyline. This ongoing partnership furthers our Purpose of helping people live Healthier, Longer, Better Lives. The AIA Vitality Park and Vitality Hub have elevated this iconic location, and we will continue to leverage this platform to engage our communities with unique lifestyle experiences and wellness initiatives," said Stuart Spencer, Group Chief Marketing Officer of AIA.

Over the past seven years of TECL's tenure, the Hong Kong Observation Wheel has consistently raised the bar, achieving significant milestones and accomplishments and has also received multiple global and regional awards:

1. Record Breaking Visitor Attendance:

An unprecedented number of visitors have enjoyed the breath-taking views and experiences the Hong Kong Observation Wheel offers. Since 2017, this attraction has welcomed over 8 million riders, with a historic high of 2,284,000 [1]Hong Kong residents and overseas visitors in the past year alone, and an impressive 94% customer satisfaction rate, reflecting its commitment to excellence.

2. Acclaimed Tourist Destination:

The Hong Kong Observation Wheel has recently been recognised as a Top 5 attraction (a rise in the rankings from Number 11 in 2018) in Hong Kong by the Hong Kong Tourism Board, cementing its status as a must-visit destination showcasing Hong Kong on the global stage and providing unforgettable experiences for visitors.

3. Diverse and Engaging Events:
AIA Vitality Park has become a vibrant venue, elevating the Central Harbourfront as an entertainment precinct by hosting a myriad of highly successful events and captivating local and international audiences, demonstrating the versatility of the Hong Kong Observation Wheel location. The venue has hosted everything from the globally acclaimed socially responsible outdoor cinema, 'The Grounds', 'Winter at the Wheel', Hong Kong Sevens satellite event in collaboration with HKCRU and the Hong Kong Tourism Board, '7s in the City', weekend pop-up markets, and movie press events for highly popular local films such as "The Guilty Conscience" and "Warriors of the Future". The attraction has also hosted Hong Kong Pop Star, Anson Lo's birthday celebrations since 2022 and a charitable concert by iconic Hong Kong artist Eason Chan.

4. Community Engagement
Community focused initiatives, including a charitable ticket programme, the community stage in AIA Vitality Park, various events with NGOs and free wellness activities have enriched the lives of many, fostering a strong sense of community and well-being.

The AIA Vitality Hub hosts daily classes including yoga, HIIT, dance, and boxing that have become exceptionally popular. In addition, the AIA Vitality Hub works closely with charities and NGOs to support disadvantaged members of society by offering tailored health and wellness activities and experiences.

Embarking on the next chapter TECL will collaborate closely with stakeholders, including partners and neighbouring attractions, to further develop and enhance the Hong Kong Observation Wheel and Central Harbourfront - a landmark destination where the world is invited to experience the beauty of Hong Kong's harbourfront. More details about this exciting new phase of the Hong Kong Observation Wheel will be released in the near future.

The issuer is solely responsible for the content of this announcement.

About The Entertainment Corporation Limited

The Entertainment Corporation Limited is a Great Entertainment Group Company and the current operator of the Hong Kong Observation Wheel.

Great Entertainment Group Limited is a multi-award-winning event organiser and producer, who connects brands and communities through entertainment. Our expertise is in delivering large-scale, memorable events that generate high-value marketing opportunities for our partners. By sharing the wonder of entertainment through quality production we aim to: Engage. Entertain. Inspire

Since the reopening of the Hong Kong Observation Wheel in partnership with Title Sponsor AIA in 2017, and the addition of AIA Vitality Park, this unique destination on Hong Kong's iconic Central Harbour front has welcomed over 8 million visitors. It has become one of Hong Kong's most popular tourist and community destinations and received multiple industry awards recognising the venue as a top destination.