Hit by mandatory closures through 40% of 2020-21, the Hong Kong Disneyland theme park and resort trimmed its losses to HK$2.4 billion ($308 million), management reported on Monday. The park and its…
theme park and resort trimmed its losses to HK$2.4 billion , management reported on Monday.
Earlier Monday, the city government indicated that the current travel restrictions and quarantine requirements may be reduced from early April. Social distancing measures may then be reduced in phases from April 21, something that could allow entertainment facilities such as cinemas and theme parks to reopen from that date.
For the year to September 2021, Hong Kong Disneyland theme park admissions climbed by 64% to 2.8 million, leading gross revenues to increase by 19% to HK$1.7 million . Earnings before interest, taxes, depreciation and amortization for the 2020-21 year improved by 34% to a HK$970 million loss. Net losses including debt servicing improved by 12% to HK$2.4 billion.
Hong Kong’s ultra-strict border controls meant that even when the park was open inbound tourist have not been able to travel. In pre-COVID years, the park managed to attract large numbers of mainland Chinese and other Asian visitors.