Hong Kong Disneyland Resort (HKDL) has reported record high revenue and earnings before interest, taxes, depreciation and amortisation (EBITDA) for the 2018 fiscal year.
Revenue rose 18 per cent to HK$6 billion (US$765 million) for the year ending September 29, 2018, while EBITDA jumped 48 per cent to HK$1.4 billion. The growth in revenue and EBITDA was attributed to increases in occupied room nights at resort hotels, park attendance and guest spending.
Annual attendance reached 6.7 million, up eight per cent over the previous year. Across-the-board growth was seen in local, mainland China and international markets, which accounted for 40 per cent, 34 per cent and 26 per cent of total attendance, respectively.
International attendance also hit a record high for the second year in a row, fuelled by strong visitation from Japan, South Korea and the Philippines. Since the park’s opening in 2005, total cumulative attendance has reached more than 77 million.
During the year, per capita spending increased six per cent, representing nine years of continuous growth. Hotel occupancy was up six percentage points to 75 per cent. Disney Explorers Lodge, which opened in April 2017, contributed to 44 per cent growth in occupied room nights.
Record revenue and EBITDA reduced net loss by HK$291 million to HK$54 million, an 84 per cent improvement from fiscal year 2017.
Stephanie Young, managing director of HKDL, attributed the increase in visitation and revenue in the past year to “innovative initiatives” such as the first-ever, large-scale outdoor concerts, and 10K Weekend running events.
The series of six outdoor concerts by popular Taiwan band Mayday was a groundbreaking initiative using the resort’s coach park to host 120,000 attendees. Tailored packages of the resort’s hotel room and park experience contributed to both hotel occupancy and park visitation.
Better connectivity has also allowed HKDL to capitalise on business potential brought about by the Hong Kong-Zhuhai-Macao Bridge and the High Speed Rail (Hong Kong Section). HKDL increased its promotions of the resort as a staycation choice, and launched tailored products in the connected markets in the Greater Bay area, as well as central and western regions of mainland China.
HKDL believes its momentum will continue with new attractions and expansions, such as the soon-to-open Ant-Man and The Wasp: Nano Battle! on March 31, and the Bibbidi Bobbidi Boutique opening in summer 2019.
