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Hong KongHong Kong Economy

Hong Kong Disneyland Resort posts loss for fourth straight year – despite higher visitor numbers reducing deficit to HK$54 million

  • New managing director attributes performance to 8 per cent rise in attendance and 18 per cent rise in revenue
  • Theme park focused on making most of new transport links to mainland China

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Stephanie Young, the Hong Kong Disneyland Resort managing director, attributed the improved financial performance to increased visitor numbers and a rise in revenue. Photo: Jonathan Wong
Denise Tsang

More visitors helped Hong Kong Disneyland Resort’s fortunes improve last year as it posted a loss of HK$54 million (US$6.94 million), a significant improvement from the HK$345 million deficit it reported in 2017.

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But the Lantau Island theme park, of which the Hong Kong government is the majority owner, still posted a loss for the fourth year running.

Disneyland managing director Stephanie Young, who succeeded Samuel Lau Wing-kee earlier this month, attributed the improved performance to an 8 per cent jump in attendance to 6.7 million people, an 18 per cent rise in revenue to HK$6 billion, and a 6 per cent rise in average spending per visitor.

“I am quite confident the business will continue to benefit from the momentum,” Young said. “There is a little bit of cloud with some [negative] economic forecast, we remain diligent in all of our efforts in keeping moving in the right direction.”

The theme park’s managing director, Stephanie Young, said the 2018 figures did not reflect the impact of the two new transport links between Hong Kong and mainland China. Photo: Nora Tam
The theme park’s managing director, Stephanie Young, said the 2018 figures did not reflect the impact of the two new transport links between Hong Kong and mainland China. Photo: Nora Tam
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Fresh challenges arose this year after the Hong Kong Tourism Board forecast the number of people who would visit the city would only grow by 1.9 per cent in 2019, while Financial Secretary Paul Chan Mo-po warned of an economic slowdown as a result of the US-China trade war and the financial predictions for China’s economy overall.

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