Hong Kong Disneyland Remains in the Red but Reduces Losses
The Hong Kong Disneyland Resort theme park remained in the red for the fourth straight year, but there are signs of improvement.
For the financial year to end-September 2018, HKDL reported $769 million (HK$6 billion) of revenue from 6.7 million visitors, an increase of 8%. Net losses fell from $32 million (HK$291 million) to $6.92 million (HK$54 million).
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Management reported that occupied room nights at the resort hotels, park attendance and guest spending all increased. The park’s financial year closed before the recent opening of the high-speed rail line to mainland China, and before the opening of the Hong Kong- Zhuhai-Macau road bridge, both of which are now boosting the volume of tourists to Hong Kong.
“This past year HKDL continued to strengthen its appeal as the ideal vacation destination. Our strong entertainment lineup throughout the year, coupled with the launch of ‘Moana: A Homecoming Celebration’ and the global debut of Cookie as a new character in the highly popular Duffy the Bear family, have enticed guests from all markets,” said Stephanie Young, managing director of Hong Kong Disneyland Resort.
On March 31, HKDL will open “Ant-Man and the Wasp: Nano Battle!”, an interactive experience that forms the second installment in expansion of HKDL’s Marvel-themed area into a hub.
The park is 53% owned by the Hong Kong government, with The Walt Disney Company owning the remaining 47%.
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