Hong Kong Disneyland Sets Revenue, Attendance Records in 2013

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Hong Kong

The resort also announced that a new hotel will be added by early 2017, expanding the hotel room capacity by 75 percent.

HONG KONG -- Hong Kong Disneyland reports record revenue, attendance, hotel occupancy and guest spending for the 2013 fiscal year -- the fourth consecutive year of gains for the resort.

Revenue at the Hong Kong Disneyland Resort grew to $629.3 million (HK$4,896 million), a 15 percent increase from last year. Net profit more than doubled to $31 million.

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The resort announced the plan to build a new hotel, which will increase the total number of hotel rooms in the resort by 75 percent to 1,750. The new hotel, slated to open by early 2017, is dedicated to the spirit of exploration and celebrates exotic locations across the globe.

The new hotel's total investment of $547 million will be funded by a combination of operating cash of Hong Kong Disneyland, cash equity injection from The Walt Disney Co., a partial conversion of the existing Hong Kong Special Administrative Region Government term loan to equity on a dollar-for-dollar basis, and new term loans from The Walt Disney Co. and the Hong Kong government.

"We are excited about the new hotel project, as we are always looking to expand upon the guest experience. This new hotel will add to the various immersive experiences we offer for guests, while also adding to the diversity of Hong Kong's offerings for tourists from around the world," Andrew Kam, managing director of Hong Kong Disneyland, said in a statement.

The resort also plans to bring in new attractions, which include a brand new nighttime spectacular called "Disney Paint the Night" in 2014, 10th anniversary celebration offerings in 2015 and a new themed area based on Marvel's Iron Man franchise in late 2016.

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"Hong Kong Disneyland is an integral component in supporting Hong Kong's position as one of the world's top cities for leisure tourists and business visitors. Expansion plans are in place to sustain the momentum of growth and capture increasing demand, especially in the light of growing tourism taking place in the region," said Kam.

A new attendance record was set during the 2013 fiscal year, with 7.4 million guests visiting the park. The results are attributed to expansion efforts, strong marketing, effective management strategies and positive tourism growth during the fiscal year.

Overall hotel occupancy also broke records at 94 percent for fiscal 2013, while guest spending marked a 6 percent year-over-year increase.

The opening of Mystic Point in May 2013 marked the completion of the 2009 expansion, which has increased the park's total size by about one-fourth and brought the total number of attractions and entertainment offerings to over 100.

Hong Kong Disneyland is owned by Hongkong International Theme Parks Limited, which is a joint venture 52 percent owned by the Hong Kong Special Administrative Region Government and 48 percent owned by a subsidiary of The Walt Disney Co.