Hong Kong Disneyland Resort (HKDL) has revealed its fiscal performance for 2019, reporting strong revenue and profit growth in the first nine months of the year.
Revenue increased by 11 per cent year-over-year in the first nine month of 2019. During this period, attendance jumped by 5 per cent and hotel occupancy grew by 8% year-over-year.
In the fourth quarter of 2019, Hong Kong’s tourism industry witnessed significant drops in visitor numbers, leading to HKDL’s fiscal performance being negatively affected.
Due to the impact of the fourth quarter in 2019, the park’s full year EBITDA was down 17 per cent to HK$1.1 billion (approx. US$0.14 billion).
For the year ending September 28, 2019, the resort delivered HK$6.0 billion (approx.US $0.77 billion). Per capita spending at the park set a new record for the tenth consecutive year, with an increase of 4 per cent year-over-year.
Despite annual attendance decreasing by 4% to 6.5 million, HKDL has welcomed over 83 million visitors since the park opened in 2005.
Locals have accounted for around 41% of attendance to the park, with mainland China and other markets accounting for 33 per cent and 26 per cent respectively.
In 2019, HKDL underwent a significant expansion with the opening of ‘Ant-Man and the Wasp: Nano Battle!’, which soon became one of the resort’s most popular attractions.
As Stephanie Young, managing director of Hong Kong Disneyland Resort commented:
“Our top 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.”