Hong Kong Disneyland records loss for second year

Hong Kong Disneyland (HKDL) has reported a net loss of 171 million Hong Kong dollars (22.03 million U.S. dollars) for 2016 fiscal year, a second loss following the 2015 fiscal year, due to the slower Hong Kong tourism market.

During fiscal 2016, the resort generated revenues of 4.8 billion Hong Kong dollars (0.62 billion U.S. dollars). Earnings before interest, taxes, depreciation and amortization was 715 million Hong Kong dollars (92.13 million U.S. dollars).

The resort has received more than 64 million guests since its opening in 2005, including 6.1 million during the 2016 fiscal year.

Hong Kong locals accounted for 39 percent of total attendance, while mainland and international visitation made up 36 percent and 25 percent. Hotel occupancy was similar to last year at close to 80 percent.

"HKDL continued to drive visitation with exciting new offerings and seasonal events during the year amid a soft tourism and leisure market," said Samuel Lau, executive vice president and managing director of HKDL.

He said HKDL is excited that the Iron Man Experience, the first Marvel-themed ride at a Disney park, debuted last month and that a new resort hotel and other exciting offerings will open later in fiscal 2017.

The resort is committed to bringing more magical experience to the people of Hong Kong, and strengthening their offerings to enhance Hong Kong's attractiveness as a premier tourist destination.

HKDL announced to built two new themed areas featuring Marvel and "Frozen", a transformed Castle and Hub area with two entirely new day and night shows.

HKDL is owned by Hongkong International Theme Parks Limited, which is a joint venture between the Hong Kong Special Administrative Region Government and a subsidiary of The Walt Disney Company.

As of the end of fiscal 2016, the Hong Kong Special Administrative Region Government owned a 53 percent majority interest in the joint venture, with The Walt Disney Company owning the remaining 47 percent. Endit