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 revealed on Sunday after meeting Disneyland’s management that the theme park had ended its ninth straight year of losses.
The theme park rebounded to a net profit in the year ending September 30, 2024 that was double the figure 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 jumped more than 50 per cent and the company’s earnings before interest, taxes and amortisation (Ebitda) 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 tourists and strong growth of Southeast Asia customers.
However, numbers among Hongkongers, who used to be the park’s main source of visitors, were down sharply in light of the trend of residents crossing the border to spend in mainland China.
