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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).

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