×

Hong Kong Disneyland Proclaims Recovery as Losses Deepen

Asian theme park, Hong Kong Disneyland is “back on (a) trajectory of growth,” operators proclaimed on Tuesday. But losses in 2017 doubled to $44.4 million (HK$345 million) in the year to September 2017, up from $22 million (HK171 million in 2015-2016).

The park, which is 47% owned by Disney, last year opened its doors to a 3% increase in visitor numbers, which reached 6.2 million in 2106-2017. In-park spending increased, helping to lift overall revenue by 8% to $656 million (HK$5.1 billion).

“The results were driven by the launch of Iron Man Experience, Disney Explorers Lodge and other marvelous seasonal offerings, as well as targeted marketing and sales efforts, further cementing the resort’s position as a premier family-friendly tourist destination in the region,” Hong Kong Disneyland said in a statement. “Net loss was larger than last year, which mainly caused by the depreciation of new projects, expansion, operating expenditure.”

A breakdown of visitor numbers show that 41% of tickets were sold to locals, with 34% sold to mainland Chinese visitors, and the remaining 25% went to international visitors. International numbers were their highest on record, and local attendance the second highest level. Disney opened its largest theme park in Asia in Shanghai in June 2016.

New activities have helped propel a stronger first quarter of the current financial year, and the company said “HKDL is confident of the market outlook and new guest offerings to be launched in 2018.” New attractions for 2018 include: An 8-minute “We love Mickey!” projection show on Main Street U.S.A. (in March); launch of the first African-themed “Karibuni Marketplace” in Adventureland (also in March); new stage show “Moana: A Homecoming Celebration” in Adventureland (May); and, Summer special event with new Disney-Pixar themed “Water Play Street Party!” (June).

Popular on Variety

More Biz

  • Felicity Huffman

    Felicity Huffman Issues Apology After Receiving Prison Sentence: 'There Are No Excuses'

    Felicity Huffman issued a long statement of apology on Friday after receiving a two-week prison sentence for paying to illegally boost her daughter’s SAT score. In the statement, Huffman, in addition to saying  she accepts the court’s decision, acknowledges and apologizes to other parents fighting to get their children into college. Along with the prison [...]

  • Actress Felicity Huffman (C-L) and her

    Felicity Huffman Sentenced to 14 Days in Prison in SAT Cheating Case

    Felicity Huffman was sentenced on Friday to 14 days in prison for the crime of paying $15,000 to boost her daughter’s SAT score. Judge Indira Talwani also ordered her to serve 250 hours of community service and a year of probation, and pay a $30,000 fine. The sentence came as a surprise, as Talwani had [...]

  • NEW YORK, NEW YORK - SEPTEMBER

    Rihanna Sings (Briefly), Pharrell and DJ Khaled Rock the Mic at Star-Studded Diamond Ball

    In just five years, Rihanna’s Diamond Ball has become one of the music industry’s biggest events of its kind, nearly on the level of the Clive Davis Pre-Grammy Gala. While there are several dazzling charity events with equal starpower and often-unique performances, what makes the Diamond Ball different is, obviously enough, Rihanna’s supernova aura and [...]

  • Amber Heard Seeks Info on Johnny

    Amber Heard Seeks Info on Johnny Depp's Arrests and Substance Abuse

    Amber Heard is asking Johnny Depp to turn over records related to his arrests and drug treatment, as her lawyers defend her from a $50 million defamation suit. Depp filed suit in March, accusing his ex-wife of tanking his career by writing a Washington Post op/ed alluding to her domestic violence allegations against him. Heard [...]

  • David Nevins, Chief Creative Officer, CBS

    David Nevins: CBS-Viacom Merger to Create 'Virtuous Eco-System' for Content

    CBS and Viacom leaders are looking for opportunities to create a “virtuous eco-system” for content that can prosper across the various platforms of the two companies that are set to merge by year’s end. That was the sentiment shared by David Nevins, chief creative officer of CBS and chairman-CEO of Showtime Networks, during a Q&A [...]

  • 'Resident Evil' Stuntwoman Files Suit Over

    'Resident Evil' Stuntwoman Files Suit Over Horrific Motorcycle Crash

    A stuntwoman who suffered severe injuries on the set of “Resident Evil: The Final Chapter” in 2015 has filed a lawsuit alleging that the film’s producers reneged on a promise to cover her medical costs. Olivia Jackson was driving a motorcycle that collided head-on with a camera rig during the shoot in South Africa. According [...]

More From Our Brands

Access exclusive content