Hong Kong Disneyland makes profit for first time in 8-year existence
19 Feb 2013 5:56 AM IST
Hong Kong's struggling Disneyland in 2012 made a profit for the first time since opening eight years ago, thanks to a surge in revenue as it welcomed a record number of visitors. The park made HK Dollar 109 million (USD 14.06 million) in the fiscal year ending September 29, 2012, compared with a net loss of HK Dollar 237 million the year before.
The result was fuelled by a 13 per cent jump in attendance to a record 6.73 million people, providing relief for the resort, which has been battling lower-than-expected numbers since opening in 2005. Visits by Hong Kong residents posted a record growth of 21 per cent while visits by mainland visitors expanded by 13 per cent. Revenue meanwhile grew 18 per cent to HK Dollar 4.27 billion.
Hong Kong Disneyland Resort's managing director Andrew Kam said it was ‘very encouraging’ to see the ‘significant improvement’. He added: ‘Attendance, hotel occupancy and guest spending levels continued to reach all-time highs.’
Hong Kong Disneyland, is majority owned by the city's government.
The result was fuelled by a 13 per cent jump in attendance to a record 6.73 million people, providing relief for the resort, which has been battling lower-than-expected numbers since opening in 2005. Visits by Hong Kong residents posted a record growth of 21 per cent while visits by mainland visitors expanded by 13 per cent. Revenue meanwhile grew 18 per cent to HK Dollar 4.27 billion.
Hong Kong Disneyland Resort's managing director Andrew Kam said it was ‘very encouraging’ to see the ‘significant improvement’. He added: ‘Attendance, hotel occupancy and guest spending levels continued to reach all-time highs.’
Hong Kong Disneyland, is majority owned by the city's government.
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