Photo Courtesy of Hong Kong Disneyland
Hong Kong Disneyland
eported its first profit seven years after the theme park opened, as visitors from mainland China spent more at the venture between Walt Disney Co. and the city’s government.
The theme park, which opened in September 2005, made a profit of HK$109 million ($14 million) in the 12 months ended September, compared with a loss of HK$237 million a year earlier, it said in a statement today. Walt Disney owns 48 percent of the park the Hong Kong government holds 52 percent.
Hong Kong Disneyland has been adding attractions that include Toy Story Land and the Grizzly Gulch to woo visitors from government-owned Ocean Park and to benefit from an increase in tourists from mainland China.
Total visitor arrivals to the former British colony rose 16 percent to 43.8 million for the first 11 months in 2012, with the number of tourists from the mainland climbing 24 percent to 31.4 million, according to provisional figures from the Hong Kong Tourism Board. Mainland visitors accounted for nearly 72 percent of the city’s total number of tourists.
Competitor Ocean Park had 7.1 million visitors in the fiscal year that ended in June, a 20 percent jump from a year ago. Ocean Park’s earnings before interest, tax, depreciation and amortisation, or Ebitda, rose 49 percent to HK$505.4 million for the fiscal year and overall revenue reached HK$1.6 billion.
Fiscal year sales rose 18 percent to HK$4.27 billion, according to the statement. Attendance climbed 13 percent to 6.73 million.
Mon, Feb 18, 2013
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