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Hong Kong Disneyland profits rise as visitor growth slows
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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