Hong Kong Disneyland still bleeding cash

6 years ago by in China Tagged:

HONG KONG (AP) — Hong Kong’s Disneyland theme park inched closer to profitability last year as higher visitor numbers and hotel occupancy rates helped it sharply narrow losses.

The theme park reported a net loss Tuesday of 237 million Hong Kong dollars ($30.5 million) on revenue of HK$3.6 billion. That’s down by two-thirds from a HK$718 million loss in 2010.

Some 5.9 million people visited the park last year, 13 percent over the year before. Hotel occupancy rose to 91 percent, 9 percentage points higher than in 2010.

Disney executives said that the first phase of an expansion area, which opened in November, helped boost attendance.

The park opened in 2005. It’s a joint venture between The Walt Disney Co. and Hong Kong government, which owns a majority stake.

 

Copyright 2012 The Associated Press.

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