Hong Kong Disneyland returns first profit

22nd Feb 2013

Hong Kong Disneyland has returned its first ever annual profit.

The theme park, which is a joint venture between Walt Disney and the city's government, made a profit of HK$109 million (£1.7m) in the 12 months to September.

This was a massive turnaround from a loss of HK$237m the year before.

The Hong Kong government owns 52% of the park, while Walt Disney has a 48% stake.

New attractions, such as Toy Story and Grizzly Gulch, have been linked to the dramatic improvement, with more Chinese people visiting the park.

Hong Kong Disneyland is currently assessing whether to continue expanding after those additions proved so fruitful.

The theme park, which opened in September 2005, is in competition with the government-owned Ocean Park.

Managing director Andrew Kam addressed the issue of further expansion during a press conference.

"We are still negotiating with all the shareholders," he said. "The expansion is a matter of when, how and what scale."

During the first 11 months of 2012, the total number of visitors to Hong Kong increased by 16% to 43.8 million.

The number of tourists visiting from the mainland also increased by 24% to 31.4 million, according to figures from the Hong Kong Tourism Board.

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