New rides lift HKDL revenue

HONG KONG Hong Kong Disneyland Resort reported, Monday, it welcomed more than 6.1 million visitors and a record high per capita spend at the park during 2016.

Gate performance details emerged as part of its financial report for 2016 that saw the theme park’s earnings reach HKD4.8 billion, but with a net loss of HKD171 million. Earnings before deductions, taxes, depreciation and amortization reached HKD715 million.

Since it opened in 2005, the park has welcomed 64 million guests. Spend during 2016 recorded the seventh consecutive year of growth.

Attendance from international guests increased to its second-highest annual level ever. Locals accounted for 39% of total attendance, while mainland and international visitation made up 36% and 25%, respectively.

Hotel occupancy was similar to last year at close to 80%.

“HKDL continued to drive visitation with exciting new offerings and seasonal events during the year amid a soft tourism and leisure market,” said HKDL executive vice president and managing director, Samuel Lau. “We are excited that Iron Man Experience, the first Marvel-themed ride at a Disney park, debuted last month and that a new resort hotel and other exciting offerings will open later in fiscal 2017 to further broaden the resort’s appeal.”

During fiscal 2016, a slowdown in Hong Kong tourism impacted on the theme park along with an unfavourable comparison against fiscal 2015, which benefited from an additional week of operations.

Consequently, the resort generated revenues of HKD4.8 billion with a net loss of HKD171 million. Earnings reached HKD715 million before interest, taxes, depreciation and amortization were calculated.

Despite these challenging market conditions, the resort’s performance began to show signs of recovery in the second half of fiscal 2016. Compared to the first half of the year, the year-over-year attendance decline eased and hotel occupancy improved in the second half of the year. This encouraging performance benefited from the launch of “Star Wars: Tomorrowland Takeover” and marketing and sales initiatives.

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