Hong Kong Disneyland rebounds to record profit after 9 years of losses: lawmaker
After meeting company management, legislator Michael Tien says park doubled its net profit last year compared with previous high set in 2013-14
Hong Kong Disneyland Resort has returned to profit for the first time in nine years with a record performance, according to a lawmaker who quoted the theme park as saying it had no immediate need to seek public funds for further expansion.
Legislator and Roundtable convenor Michael Tien Puk-sun said on Sunday that a nine-year loss-making stretch at the theme park had ended, as he revealed the performance after meeting Disneyland’s management.
The theme park rebounded to a net profit in the year ending September 30, 2024, with a figure that was double the amount of 2013-14, its best year. This means the theme park could have earned at least HK$664 million (US$85.5 million) last year, based on the HK$332 million figure for 2013-14.
Tien added that revenue had jumped by more than 50 per cent and the company’s earnings before interest, taxes, depreciation and amortisation (Ebitda) had more than doubled in the financial year ending September 2024, compared with a year ago.
He also said Disneyland’s visitor numbers grew by over 1 million last year, led by the return of mainland Chinese tourists and strong growth of Southeast Asia customers.
But the number of Hongkongers, who used to be the park’s main source of visitors, was down sharply in light of the trend of residents crossing the border to spend on the mainland.