Hong Kong Disneyland posted a wider annual loss yesterday as attendance by mainland Chinese tourists dropped amid a softer tourism market.
The park said it lost 171 million Hong Kong dollars (USD22 million) on revenue of HKD4.8 billion for its most recent financial year, which ended Oct. 3.
Some 6.1 million people visited the park last year. That’s down from the previous year, when it drew 6.8 million people and lost HKD148 million.
Visitors from mainland China, a key market for the resort, accounted for 36 percent of total attendance in 2016, down from 41 percent the year before.
Resort owners The Walt Disney Co. and the Hong Kong government, which has a 53 percent stake, last year announced a $1.4 billion expansion for the park, which has been criticized for being too small and having too few big-ticket rides.
The expansion project, scheduled to begin next year, will add new themed areas based on the movie “Frozen” and Marvel superhero characters and an attraction based on the film “Moana” as well as renovations to the park’s castle. However, Disney’s board and Hong Kong lawmakers need to approve its funding.
Hong Kong is also working to improve its competitiveness as an Asian tourism destination following last year’s launch of Shanghai Disneyland, which raised concerns that it would siphon off mainland visitors.
There was many complaint from the kids that Donald Duck was missing and mickey mouse was not appeared. The parents was very sad that they can’t satisfied their children what they paid to Disneyland for. Foods are too expansive & transportation. Many children understand now it is useless and reluctant to visit Disneyland.