Ticket prices will drop to HK$20 (US$2.6) for Hong Kong’s Observation Wheel when it re-opens soon, a fifth of the old price, according to the attraction’s new operator.
Michael Denmark, chief executive of the Entertainment Corp (TECL), said the new price was not a short-term promotion and would remain for the length of the company’s three-year contract, reported The Standard.
He also said children under 3 would ride for free, while the elderly would get a discount.
“Making Hong Kong’s spectacular harbourfront and internationally recognized skyline more accessible, and vital to everyone, is our common objective,” Denmark said in a statement, according to EJ Insight.
A ride on the 60-meter Ferris wheel cost HK$100 (US$12.8) under its previous operator, Swiss AEX.
The iconic attraction changed hands in September following the expiry of Swiss AEX’s lease of the harbor-side land in August, which led to the wheel’s abrupt closure.
The transfer was far from smooth, however, and at one point it looked like the wheel might be demolished.
In the end, TECL paid a total of HK$116 million (US$14.8 million) for the wheel and its foundation, according to Hong Kong businessman Allan Zeman, who helped facilitate the deal, which was complicated by legal and licensing issues.
Under its new three-year contract, TECL will pay HK$1.5 million a month to lease the land, which covers an area of 7,320 square meters. The plot will be used for events.
Denmark said an exact date for the wheel’s re-opening — expected before the end of December — will be announced in the coming weeks.
