Hong Kong Disneyland could take $275 million hit from anti-government protests
The continuing anti-government protests in Hong Kong could cost Hong Kong Disneyland up to $275 million.
The park’s operating income declined $55 million in the fourth-quarter which ended in September, and expects revenue to fall $80 million in the current quarter.
Disney chief financial officer Christine McCarthy said continuing unrest could lead to a full-year decline of $275 million
The protests ‘have led to a significant decrease in tourism from China and other parts of Asia’ McCarthy said during Walt Disney Co’s earnings call.
It comes at a bad time as the park had narrowed its losses to just $6.9 million after recording park attendance growth by 8%
The protests will likely see the park stay in the red for a fifth consecutive year.
The HK government said it is now officially in recession and the tourism industry is reeling.
A number of global hospitality chains such as IHG have reported big declines in revenue.
Hyatt Hotels saw revenue per available room plunge by 36% in the third quarter in Hong Kong and was down 50% in October.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
TAP Air Portugal to operate 29 flights due to strike on December 11
Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Digital Travel Reporter of the Mirror totally seduced by HotelPlanner AI Travel Agent
Strike action set to cause travel chaos at Brussels airports