Hong Kong Disneyland Resort on March 16 reported business results for fiscal year 2019(FY19).
A strong trajectory in the first nine months of FY19 saw revenue up by 11 percent year- on-year, earnings before interest, taxes, depreciation and amortisation (EBITDA) up by 20 percent and net profit increasing fourfold.
During the same period, attendance grew by 5 percent and hotel occupancy increased by eight percentage points year-over-year.
As Hong Kong’s tourism industry faced significant headwinds in the fourth quarter of FY19, a key summer travel period, with visitor arrivals dropping considerably, HKDL’s performance during the same period was also adversely affected.
As a result of these challenges, the resort delivered revenue of HK$6.0 billion for the year ending September 28, 2019, comparable to FY18. Park per capita spending set a new record for the tenth consecutive year with an increase of four percent year-over-year.
While annual attendance decreased four percent to 6.5 million, HKDL has welcomed more than 83 million guests since the park opened in 2005. For the full year, hotel occupancy stood at 74 percent.
Due to the FY19 fourth quarter impact, full year EBITDA was down 17 percent to HK$1.1 billion, resulting in a net loss of HK$105 million.
The resort welcomed a diverse guest mix during the year, with locals accounting for 41 percent, while mainland China and other markets were at 33 percent and 26 percent, respectively. Attendance growth in Japan, South Korea and Thailand remained strong, with double-digit growth in each market.
HKDL is committed to contributing to Hong Kong and serving the local community. In the past 14 years of operations combined, HKDL brought approximately HK$108.5 billion of value-added to Hong Kong’s economy, equivalent to 0.33% of Hong Kong’s GDP, and cumulatively created 269,500 jobs (in terms of man-years), benefiting Hong Kong’s overall economy.
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