Tuesday, July 22, 2014

HK Disney turns first profit since 2005 opening

March 16. 2013 7:10PM
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(AP) Disneyland in the southern Chinese city of Hong Kong has turned a profit for the first time since it opened in 2005.

The park said Monday it earned 109 million Hong Kong dollars ($14 million) in 2012. Revenue rose 18 percent to HK$4.27 billion ($550 million).

The number of visitors rose 13 percent to 6.73 million, with guests spending 6 percent more compared with the previous year. Visits by local residents rose 21 percent while those by mainland Chinese climbed 13 percent.

Hong Kong's Disney park is set on 311 acres (126 hectares) of reclaimed land on Lantau island. It's poor performance since opening has been blamed on its small size. It's the smallest of Disney's parks worldwide.

Hong Kong government's has a 52 percent stake in the park.

Associated Press

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