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HK Disneyland suffers loss for 2nd year
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Hong Kong Disneyland has reported a net loss of HK$171 million (US$22.03 million) for the 2016 fiscal year, a second loss following the 2015 fiscal year, due to a slower Hong Kong tourism market.
In the fiscal year through October 3, the resort generated revenue of HK$4.8 billion. Earnings before interest, taxes, depreciation and amortization amounted to HK$715 million.
The resort received more than 64 million guests since its opening in 2005, including 6.1 million during the 2016 fiscal year.
Hong Kong locals accounted for 39 percent of total attendance, while Chinese mainland and international visits made up 36 percent and 25 percent respectively. Hotel occupancy was similar to the previous year at close to 80 percent.
“Hong Kong Disneyland continued to drive visitation with exciting new offerings and seasonal events during the year amid a soft tourism and leisure market,” said Samuel Lau, executive vice president and managing director of Hong Kong Disneyland.
He said the resort is excited that the Iron Man Experience, the first Marvel-themed ride at a Disney park, debuted last month and that a new resort hotel and other exciting offerings will open later in fiscal 2017.
Hong Kong Disneyland said it will build two new themed areas featuring Marvel and “Frozen,” a transformed Castle and Hub area with two entirely new day and night shows.
Hong Kong Disneyland is owned by Hongkong International Theme Parks Ltd, a joint venture between the Hong Kong city government and The Walt Disney Co.
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