Hong Kong Disneyland fell to another loss in 2016, as visitor numbers declined in the wake of the opening of mainland China’s first Disney theme park.
The full-year net loss of HK$171 million (US$22m) reflected declining revenues, which fell from HK$5.1 billion to HK$4.8bn, in line with a 10% slump in visitor numbers, from 6.8m to 6.1m.
The park’s management called market conditions in 2016 “challenging”, and this is likely to continue in 2017. Visitors from mainland China comprised more than a third (36%) of total arrivals in 2016, and the opening of Shanghai Disneyland last summer will provide stiff competition for the mainland market.
Shanghai Disneyland expected to welcome up to 10m visitors in its first full year of operations.
Despite this, Hong Kong Disneyland continues to expand. The new Iron Man Experience launched earlier this year and the park’s third hotel, Disney Explorer’s Lodge, will open its doors in April.