Following Dam Sen, West Lake Water Park reports big profits

In recent days, the hot weather in Hanoi has caused the number of visitors to the water park to increase. This could promise a bumper year for the water park. Previously, at the end of 2022, the West Lake Water Park also reported a large profit after 2 years of losses due to the Covid-19 pandemic.

Specifically, according to the 2022 financial report of Hanoi Entertainment Services Joint Stock Company (stock code HES) - the owner of Ho Tay Water Park - revenue reached more than 136 billion VND, an increase of about 7 times compared to the same period in 2021. At the same time, the company recorded a net profit of nearly 18.6 billion VND, a sharp increase compared to the loss of more than 29 billion VND in 2021. Even Ho Tay Water Park had a higher profit last year than in 2019 - the time before the Covid-19 pandemic. Previously, Dam Sen Water Park in Ho Chi Minh City also reported a net revenue of 232 billion VND last year, more than 9 times higher than in 2021 and a profit after tax of nearly 108 billion VND, 4 times higher than in 2021.

Nối gót Đầm Sen, công viên nước Hồ Tây báo lãi lớn - Ảnh 1. — West Lake Water Park is crowded on hot days

In the past year, Ho Tay Water Park welcomed 434,058 visitors from inside and outside the capital, an increase of 418,650, equivalent to an increase of 2,717.1% compared to 2021. The company said that the demand for entertainment that had been suppressed by the pandemic for 2 years (2020 - 2021) has been lifted, the summer vacation of students has returned as many years ago... creating a strong attraction to attract customers to the water park in 2022. The sharp increase in visitors also boosted revenue from value-added services at the park such as food, retail, swimwear rental, guest houses...

However, this year the company aims to achieve revenue of VND 139.61 billion, an increase of 2.58% compared to 2022 and a profit target of VND 17.4 billion, a decrease of 61.5% compared to 2022. The profit reduction plan is due to the expected decrease of VND 8 billion in profit from Ho Tay Water Park, land rent increase of VND 2.03 billion... In particular, the number of visitors to Ho Tay Water Park in 2023 is expected to reach only 352,694 people, a decrease of 18.74% compared to last year.

West Lake Water Park was established in 2000, on the occasion of the 110th anniversary of President Ho Chi Minh's birthday and the 990th anniversary of Thang Long - Hanoi. The park has a total area of 8 hectares, including 2 main amusement areas: West Lake water amusement area and New Sun Park - an amusement area on land.

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