Hong Kong Disneyland profits rise as visitor growth slows

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Hong Kong Disneyland profits rise as visitor growth slows

March 17, 2015

Hong Kong Disneyland reported a HK$336 million (A$56.5 million) profit for the last financial year despite experiencing a slowdown in visitor growth.

The Resort, a joint venture between the Kong Kong Government and US-based Disney, achieved a profit rise, up by 36% on the previous year, which has been attributed to a rise in per capita guest spending trhough 2014.

Attendance at the attraction hit a record 7.5 million with a 12% increase in gross revenues of HK$5.47 billion.

Hotel occupancy was 93%, down from 94% the previous year due to renovations.

Commenting on the results, Hong Kong Disneyland Managing Director Andrew Kam, stated "three new themed areas - Toy Story Land, Grizzly Gulch and Mystic Point - and the recently-launched ‘Disney Paint the Night’ night time spectacular have truly strengthened the appeal of HKDL as a world-class tourist destination."

The Hong Kong park is 52% owned by the Hong Kong Special Administrative Region Government with The Walt Disney Company owning the remaining 48%.

In a separate joint venture Disney is currently building its first theme park in mainland China, in Shanghai. Opening of Shanghai Disney has recently been pushed back from a late 2015 start to an opening in the first half of 2016.

19th January 2015 - NEW DISNEY HOTEL UNDERLINES IMPORTANCE OF HONG KONG TOURISM

4th July 2014 - HONG KONG NEEDS NEW ATTRACTIONS AND VENUES

20th February 2014 - HONG KONG DISNEYLAND ANNOUNCES RECORD PROFITS, PLANS FOR THIRD HOTEL

4th March 2013 - HONG KONG DISNEYLAND TO EXPAND WITH MARVEL SUPERHEROES ATTRACTION

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