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Hong Kong Disneyland Reports its First Annual Profit

Travel News Asia Latest Travel News Podcasts Videos Tuesday, 26 February 2013
 

Hong Kong Disneyland (HKDL) has reported a net profit of HK$109 million for the year ended 29 September 2012, attributing the results to record revenues driven by timely expansion, strong sales and marketing strategies, and effective cost management.

This is the first annual profit since the resort opened in September 2005.

HKDL’s total revenues during the year increased 18% to HK$4,272 million from the previous year’s HK$3,630 million.

Attendance was 6.7 million and hotel occupancy was 92%, both company records. The resort also saw a 6% increase in theme park per capita guest spending during the year.

The opening of two new themed areas, Toy Story Land in November 2011 and Grizzly Gulch in July 2012, proved popular among local and overseas guests. The openings also contributed to an increase of more than 40% in the number of Magic Access (annual pass) holders to around 195,000 in fiscal 2012.

Additional spending in Hong Kong by HKDL visitors generated HK$8 billion of value added to Hong Kong in fiscal 2012, which is equivalent to around 0.42% of Hong Kong’s GDP. A total of 24,500 jobs in terms of man-years were also created, primarily benefiting grassroots workers as well as the travel and hospitality industry.

The results reflect the continued growth of HKDL in the past five years, during which annual attendance has grown to 6.7 million from 4.5 million, and revenues have grown to HK$4,272 million from HK$2,568 million.

“It is very encouraging to see such a significant improvement in our business over the past five years, in particular the record-breaking results that we achieved in fiscal 2012. Attendance, hotel occupancy and guest spending levels continued to reach all-time highs,” said HKDL managing director, Andrew Kam. “The opening of Toy Story Land and Grizzly Gulch, together with strong sales and marketing strategies, have been key drivers for our growth. The success of this year is a significant achievement for all of our Cast Members, who have contributed to this very exciting time.”

“We are confident that the Resort’s solid performance, strong financial position and robust growth will continue with the opening of Mystic Point,” added Mr. Kam. The latest one-of-a-kind themed area for HKDL is scheduled to open in mid-2013. “We are committed to growing the Resort’s business and introducing innovative, appealing new offerings for our guests from Hong Kong, Asia and around the world.”

During the year, local guests accounted for 33% of HKDL’s total guest mix, while mainland Chinese represented 45% of total guests and international represented the remaining 22%.

The opening of Mystic Point will mark the completion of the current theme park expansion plan, one year ahead of schedule. The expansion will increase the park’s total size by about one-fourth, bringing the total number of attractions and entertainment offerings to more than 100.

Mr. Kam said the expansion of HKDL would not end with the opening of Mystic Point, adding that HKDL is exploring new expansion options.

Disneyland, Hong Kong, Hong Kong Disneyland

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