Connect with us

Hi, what are you looking for?

Good sales witnessed in China/FILE


China tourists push Hong Kong Disneyland to record profit

Good sales witnessed in China/FILE

Good sales witnessed in China/FILE

HONG KONG, Feb 17 – Hong Kong Disneyland on Monday reported a record profit last year buoyed by an increasing number of tourists from mainland China and said it would build a third hotel in the theme park to meet demand.

The once-struggling park said profit more than doubled to HK$242 million (US$31.2 million) in the last fiscal year that ended September, compared with US$14.06 million in the same period of 2012, with a record attendance of 7.4 million visitors.

It said the increase in attendance was largely due to more mainland tourists visiting.

“Asia is experiencing strong economic growth. Disposable income around Asia is improving and that has stimulated the tourism industry within Asia,” Hong Kong Disneyland managing director Andrew Kam told a news conference.

“I don’t have a crystal ball… but as long as disposable income keeps increasing, the demand for outbound travel certainly will continue” to grow in mainland China and the rest of the region, he said.

Kam said the theme park’s two existing hotels had an overall occupancy rate of more than 90 percent for the past three years.

He said the new hotel would add 750 rooms to the existing capacity of 1,000 and would require a new investment of HK$4.26 billion, partly funded by the Hong Kong government, the park’s largest shareholder.

Hong Kong Disneyland is 52 percent-owned by the city’s government.

The park reported its first-ever annual profit since its 2005 opening in the 2012 fiscal year, totalling US$14.06 million, while attendance stood at 6.7 million visitors.

The new hotel would open as early as 2017, he said.

Advertisement. Scroll to continue reading.
Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...