(Yicai) Oct. 16 -- Haichang Ocean Park Holdings, which owns and operates marine theme parks and resorts, is expanding in China and also has plans to go overseas, according to its executive director.

Haichang Ocean Park is seeking global business opportunities and will develop a comprehensive tourism project covering an area of 150 hectares on the island of Boracay in the Philippines, Qu Cheng said at an industry forum on Oct. 14.

The Dalian-based company has also penned a non-binding deal with Saudi Arabia’s investment ministry, receiving a license to work with partners to build a marine theme park and an integrated resort, Qu added.

Haichang Ocean Park, whose theme parks feature attractions and exhibits such as aquariums, water shows, roller coasters, and other entertainments, is expanding in its home market too, where overseas rivals, including Universal Destinations & Experiences and Disney Parks, Experiences and Products, have made inroads.

“We have several domestic projects across the country and a series of expansion plans, with some already in progress,” Qu said. The second phase of Shanghai Haichang Ocean Park, with two theme venues and one intellectual property shopping street, will be invested in by local partners and operated by the company, he added.

Haichang Ocean Park inked a deal with the government of Beijing's Tongzhou district to build the Beijing Haichang Ocean Park in Tongzhou Cultural Tourism Zone near the Universal Studios Beijing theme park, Qu pointed out.

The number of visitors at the company’s parks soared 127 percent in the first half of this year from a year earlier, while climbing 12.4 percent from the level of 2019. Revenue surged 190 percent to CNY750 million (USD102.6 million) in the period, according to its latest earnings report.

The pandemic significantly impacted the tourism sector and Haichang Ocean Park, said Yao Jun, chairman of the China Tourist Attractions Association. But the company’s parks have seen substantial performance growth after the pandemic by stimulating consumption for souvenirs through an IP strategy, Yao noted. 

After Haichang Ocean Park introduced the Ultraman IP in July last year, 70 percent of its visitors went to the Ultraman theme venue, generating monthly revenues of more than CNY5 million (USD691,888) and boosting secondary consumption at the theme park.

But even though Haichang Ocean Park has gained much from cooperation with several major IP holders, such franchises cost a lot and only last for a certain time, industry insiders pointed out. The firm must earn a return on the investment during the tie-up period, putting it under considerable operating pressure, they added.

Editor: Martin Kadiev