Walt Disney Company (The) (NYSE: DIS) – Disney’s Hong Kong Resort stays in the dark

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Good news for The House of Mouse overseas.

The Walt disney (NYSE: DIS) in Hong Kong announced its second consecutive profitable year – as well as a fourth consecutive year of record revenue – and also announced plans to build a new 750-room hotel in the theme park.

Hong Kong Disneyland (HKDL) on Monday said its net profit more than doubled in fiscal 2013 to $ 31.2 million (HK $ 242 million). Revenue rose 15% (from a year earlier) to around $ 630 million (HK 4.9 billion) – with attendance records reaching an all-time high of 7.4 million guests.

“HKDL is integral to supporting Hong Kong’s position as one of the best cities in the world for leisure tourists and business visitors,” said Andrew Kam, general manager of the resort, in a statement. . Press release. “Expansion plans are in place to maintain the growth momentum and capture growing demand, especially in light of the growth of tourism in the region. “

The theme park says around two-thirds of its guests are currently from mainland China and international markets. Hong-Kong Disneyland would have struggled for years after it opened in 2005, but the addition of new attractions and amenities finally made it profitable in 2012.

The Associated press says HKDL, 52% of which is owned by the Hong Kong government, is the smallest of Disney’s theme parks. However, an expansion project, completed in 2013, significantly increased the size of the station.

HKDL will also face competition from another Disney company in the near future. The company plans to open its first resort in mainland China, in Shanghai, at the end of next year.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


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