Ocean Park's Water World attraction has underperformed since opening four years ago and it might have to be shut down, chairman Paulo Pong said on Thursday.

Pong told RTHK he was satisfied with the park's overall operations, following a growth in revenue for the fourth straight year.

But the total deficit has increased to HK$274.7 million, partly due to losses from Water World.

The park will need to talk to stakeholders about the way forward, Pong said, as the attraction's performance has not met expectations even though they have tried various measures to boost attendance.

"Initially, the idea was to be open all year round. However, after two years, we discovered that the number of visitors in winter was not ideal. In order to save costs, the facility was closed in winter in both 2024 and 2025. We're doing the same now, closing on October 15 and hoping to reopen in May. This is one of the steps we have taken to reduce expenses," he said.

"We have tried pricing adjustments and drawing in visitors with DJs and night-time events, but the numbers are still lower than we had hoped."

Pong said he does not rule out the possibility that Water World could be shut down.

Meanwhile, the park will talk to the government about extending an annual HK$280 million grant for conservation and education work which is due to end next year.

Pong said conservation and education expenses account for about 30 percent of total operating costs and if the subsidy is not continued, some of the ongoing projects might have to be cut.