|
|
|
|
|
Prudence Lui, Hong Kong (2010-01-20)
HONG KONG Disneyland remains in the red, making a HK$70 million (US$9 million) pre-tax loss for fiscal year 2008, which ended October last year, despite a series of cost-cutting measures.
The theme park made the figures available for the first time since its September 2005 opening.
The report showed the park welcoming 19 million visitors from its opening until last December, with Disneyland recording a 4.6 million increase of two per cent in attendance for the last financial year.
However, the increase failed to lift performance as total generated revenues slumped one per cent to HK$2.5 billion.
The A/H1N1 scare from May to July and the global recession were blamed for the fall in revenues as per capita guest spending reached HK$560, while occupancy at the hotels dropped eight per cent to 70 per cent.
Secretary for Commerce and Economic Development, Rita Lau, was far from pleased as the government is the park's biggest shareholder. "The performance as delivered by the theme park company is certainly falling short of our general expectation."
Hong Kong Disneyland managing director Andrew Kam said he expects a HK$3.6 billion expansion project which will add 23 per cent more acreage and three themed areas to the world's smallest Disneyland to make a difference to the bottomline.
|
