Hong Kong Disneyland Resort (HKDL) yesterday said that its revenue last year jumped 31 percent as the number of domestic visitors to its attractions hit a record, helping the company shrug off the effects of COVID-19 pandemic-related restrictions.
Revenue for the 52-week year ended on Oct. 1 last year grew to HK$2.2 billion (US$280.7 million), with the net loss narrowing to HK$2.1 billion from a HK$2.4 billion loss a year earlier, HKDL said in a statement.
Total attendance reached 3.4 million, most from local tourists during the pandemic.
Photo: Bloomberg
In fiscal 2022, HKDL’s theme park only operated for about six months in total due to mandatory closures and weeks when it could only operate five days out of seven.
HKDL said the theme park would review market conditions and adjust its operations to open six or seven days a week from the middle of next month to meet demand.
HKDL is to reopen Disney’s Hollywood Hotel in mid-July, unveil the Walt Disney and Mickey Mouse statue “Dream Makers” in October and open its “World of Frozen” in November, it added.
Hong Kong’s economy has waged a comeback after emerging from a recession in the first quarter of this year — its first three-month period of growth in more than a year.
GDP expanded by 2.7 percent year-on-year, vastly exceeding expectations among economists and marking a rebound from a 4.1 percent decline in the final quarter of last year, the Hong Kong government reported on May 2.
An influx of tourists has boosted demand. Visitor arrivals surged to about 2.5 million in March, up 68 percent from February.
Additional reporting by Bloomberg
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