Hong Kong Disneyland back in the red after years of profits
Hong Kong Disneyland announced today that the park is back in the red for the fiscal year ending October last year, after seeing several years of profits.
The park posted a net loss of HK$148 million, mainly due to fewer mainland visitors and a decline in visitors spending money in stores and shops.
Revenue fell 6.4 percent to HK$5.11 billion, the park’s first year-on-year decline in income since 2009. Hong Kong Disneyland made a profit of HK$332 million in 2014.
Attendance at the park was down 9.3 percent in 2015 to 6.8 million, compared to 7.5 billion in 2014 . The park did see a jump in locals, 2.7 million, up 14 percent from the 2.4 million of the previous year.
The park will be getting an all-new attraction called “Iron Man Experience,” and will also be getting Hyperspace Mountain, a Star Wars layover of their Space Mountain attraction, similar to the one found in Disneyland in California.
Shanghai Disneyland will also be opening its doors this year, which could be some competition for the park being only a day or so travel from Hong Kong Disneyland. Hong Kong Disneyland says it has a long-term plan to open new attractions and experiences to keep guests coming back every year.
The theme park resort also plans to launch a three-day discount ticket to compete with Shanghai Disney.
via China Daily