Annual Report 2024

23 2024 Annual Report Transport International Holdings Limited Propelling the Momentum Forward As Hong Kong returned to normalcy, economic activities surged with a growing demand for public transport services. Aligning with the Hong Kong SAR Government’s initiative to promote “tourism is everywhere in Hong Kong”, mega events made a strong comeback, spanning sports, cultural events, conventions, and exhibitions. Amid evolving travel patterns among locals and tourists, KMB proactively adapt to these significant shifts, ensuring that bus services effectively met the public demand. New Fare Adjustment In 2024, KMB was approved for a fare increase by the Chief Executive in Council. Effective from 5 January 2025, KMB fares increased by an overall actual weighted average rate of 4.3 per cent after a 0.9 percentage point mitigation effect by its Franchised Bus Toll Exemption Fund, resulting in an average fare increase of HK$0.3 per journey. Preferred Choice of the Public KMB is committed to providing value-for-money public bus services, ensuring the best travel experience through its comprehensive bus service network, innovative measures and eco-friendly technologies. In 2024, KMB continued to introduce new service types and enhance network connectivity, with a strong focus on meeting tourist demand. In response to the growing number of tourists, Recreation Route HK1 ("Tour @Kowloon") linking various tourist spots in Kowloon was launched. Coupled with the Tourist Day Pass, passengers can enjoy “hop on, hop off” KMB services within the same day. In addition, the new bus route running between Ma Wan and Tsim Sha Tsui has extended the KMB network to Ma Wan Island. Value-for-Money Services KMB Monthly Pass KMB continues to enhance its service by providing affordable and convenient journeys for passengers. It has launched the Monthly Pass Scheme (the “Pass”), the first monthly pass for franchised buses in Hong Kong. Since 2023, the Pass has extended its coverage to over 450 KMB regular, overnight and racecourse routes, along with LWB bus routes. In 2024, Pass holders can take up to 10 rides per day on KMB and LWB buses for HK$800 (plus two additional trips on Route B1). For LWB services, Pass holders can use the Pass to travel on E-, N-, S-, R- and X- routes and enjoy a 73% fare discount on KMB’s Recreation Route HK1, as well as on LWB’s A- and NA-routes. KMB has rolled out additional exclusive privileges for Monthly Pass holders through various programmes: The “Fare for Upgraded Journey” campaign offers discounted fares for KMB Monthly Pass holders travelling on the New Long-haul Bus Routes P960 and P968; With each purchase of the Pass, passengers can earn points equivalent to the price of the Pass towards redeemable KMB gifts and eCoins under the KMB membership scheme, club1933; and A manned hotline with operators dedicated to enhancing the travel experience for Pass holders. To ease the financial burden on student passengers, KMB launched two rounds of the Buy-2-Get-1-Free promotion scheme, running from April to June and September to November 2024. Passengers who purchased a KMB Monthly Pass for three consecutive months were entitled to an Octopus dollar rebate equivalent to the price of one KMB Monthly Pass. The scheme was welcomed by student passengers. To provide more transport information for students in the new school year, information booths were set up on the campuses of several universities and community colleges in April and October 2024. KMB introduced the all-new “Tour @Kowloon” Recreation Route HK1, linking various tourist hotspots and echoing the Hong Kong SAR Government's “tourism is everywhere in Hong Kong” concept