Hong Kong Disneyland posts loss in “challenging year”

Andrew Kam, Hong Kong Disneyland's managing director, showcases the park's new Star Wars-themed merchandise
Andrew Kam, Hong Kong Disneyland’s managing director, showcases the park’s new Star Wars-themed merchandise

Hong Kong Disneyland Resort posted a loss in the 2014-15 financial year, despite achieving record amount of guest spending, new figures have shown.

Releasing its full-year financial results, the theme park revealed that it welcomed 6.8 million visitors in the 12 months to October 2015, its third highest total since it opened a decade ago. It generated total revenues of HK$5.11 billion (US$657 million), but posted a full-year net loss of HK$148 million.

This came despite the park achieving record guest spending in 2014-15, which marked the sixth consecutive year of growth.

Locals accounted for 39% of total attendance, while mainland Chinese and international visitors made up 41% and 20%, respectively. Hotel occupancy was close to 80%.

“While fiscal 2015 was a challenging year in the entire tourism sector, we are committed to continuously contributing to the growth of the tourism industry in Hong Kong,” said Hong Kong Disneyland’s managing director, Andrew Kam.

Hong Kong Disneyland launched the Disney Paint the Night” Parade last year
Hong Kong Disneyland launched the Disney Paint the Night” Parade last year

“We are making significant investments in the guest experience at Hong Kong Disneyland, including new entertainment just launched as part of our 10th anniversary celebration, the opening of the Iron Man Experience in 2016 and the construction of a new resort hotel, Disney Explorers Lodge, which will welcome its first guests in 2017.

“We take a long-term approach to developing our resorts, and our investments in Hong Kong Disneyland illustrate both our confidence in the future of the resort and our belief in the destination of Hong Kong,” he added.

Hong Kong Disneyland worked out that it contributes approximately 0.4% of the city’s overall GDP, supporting more than 5,300 full-time and 2,500 part-time jobs. This makes the resort one of Hong Kong’s largest employers.

As well as the launch of the Iron Man Experience in 2016, the park also plans to add new offerings later this year based on the movie ‘Star Wars: The Force Awakens’. This will include the revamp of the Space Mountain rollercoaster, which will feature Star Wars elements, and a new ‘Jedi Training’ area for young guests.

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