HONG KONG • Hong Kong (HK) Disneyland reported 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 (RM43.27 million) in the 12 months ended Oct 1, compared to a loss of HK$237 million a year earlier, it said in a statement yesterday.
Hong Kong Disneyland has been adding attractions that include Toy Story Land and the Space Mountain ride to woo visitors from government-owned Ocean Park and to benefit from an increase in tourists from mainland China.
Fiscal year sales rose 18% to HK$4.27 billion, according to the statement. Attendance climbed 13% to 6.73 million.
Total visitor arrivals to the former British colony rose 16% to 43.8 million for the first 11 months in 2012, with the number of tourists from the mainland climbing 24% to 31.4 million, according to provisional figures from the Hong Kong Tourism Board.
Mainland visitors accounted for nearly 72% 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% jump from a year ago. Ocean Park’s earnings before interest, tax, depreciation and amortisation, or Ebitda, rose 49% to HK$505.4 million for the fiscal year and overall revenue reached HK$1.6 billion.
HK Disneyland reports 1st profit aided by Toy Story
