Hong Kong Disneyland posts annual loss after decline in Chinese visitors
Monday, 17 Feb, 2016
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Just months before Disney’s first theme park in Mainland China opens, Hong Kong Disneyland has slipped back into the red after three profitable years.
Last year the park lost US$19.1 million (HK$148 million) due to a drop in Chinese visitors which looks set to continue after the Shanghai Disneyland park opens in June.
The park welcomed 6.8 million visitors last year, down from 7.5 million in 2014, although Disney said it was still its third-highest annual attendance since it first opened 10 years ago.
Average spend per guest was up but overall revenue fell 6.4% to HK$5.1 billion.
"The next two years will be very challenging," Hong Kong Disneyland managing director Andrew Kam Min-ho said.
However despite the slowdown from mainland visitors, he remained bullish on other Asian markets.
"Our asset is really differentiation. We will focus on serving customers around the region. We have plenty of new attractions to offer."
A new 750-room hotel is slated to open at the park next year.
The much larger $5.5 billion Shanghai Disneyland park opens in June with lower ticket prices than Hong Kong Disneyland.
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.
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