Hong Kong: Hong Kong Disneyland Records Solid Results in FY 2019
Hong Kong Disneyland (HKDL) recently published the results for its past financial year, which ended on September 28th, 2019. During the first nine months of the FY, the theme park resort recorded an eleven percent increase in revenues and EBITDA rose by 20 percent with a fourfold increase in profit compared to the previous year. Attendance jumped by around five percent during that period.
However, due to the politically unstable situation in Hong Kong, the tourism industry experienced a sharp downturn last year, which is also reflected in the annual results of Hong Kong Disneyland. In the fourth quarter of 2019 – the peak season oft he park during the summer months – visitor numbers declined significantly. Compared to the previous year, the park saw a decline around four percent in visitor numbers (2019: 6.5 million guests / 2018: 6.7 million guests). Full year EBITDA decreased by 17 percent from approx. 180.7 million EUR (1.5 billion HKD) in 2018 to 132.5 million EUR (1.1 billion HKD). With total revenues of around 720 million EUR (6 billion HKD), the park recorded a net loss of over 12 million EUR (105 million HKD).
“Our strategy of launching new offerings and seasonal events that leverage Disney’s popular movie releases, such as ‘Ant-Man and The Wasp: Nano Battle!’ and ‘Toy Story & Pixar Pals Summer Splash’, yielded great results,“ says Stephanie Young, managing director of Hong Kong Disneyland Resort (photo), and adds: “Along with the Castle of Magical Dreams to be unveiled in 2020 and the future opening of a new Frozen-themed area, we’re confident we will manage through the current challenges and work toward HKDL’s long-term potential.“ (eap)