Hong Kong Disneyland reports profit after nine years of losses

Hong Kong Disneyland Resort has reported a profit for the first time in nine years with a record performance.

Legislator and Roundtable convenor Michael Tien Puk-sun quoted the theme park as saying it had no immediate need to seek public funds for further expansion and advised that a nine-year loss-making stretch at the theme park had ended.

According to the South China Morning Post, the theme park rebounded to a net profit in the year ending 30th September, 2024, with a figure that was double the amount of 2013-14, its best year. This means the theme park could have earned at least US$85.5 million last year.

Tien added that revenue had jumped by more than 50% and the company’s earnings before interest, taxes, depreciation and amortisation (Ebitda) had more than doubled in the financial year ending September 2024, compared with a year ago.

Disneyland’s visitor numbers grew by over one million last year, led by the return of mainland Chinese tourists and strong growth of Southeast Asia customers.

However, the number of Hong Kong residents, who used to be the park’s main source of visitors, was down sharply in light of the trend of residents crossing the border to spend on the mainland.

The Hong Kong Government has a 52% stake in the theme park on Lantau Island, while the rest is held by the US-based Walt Disney Company through a joint venture called Hong Kong International Theme Parks.

Tien urged the government to foster collaboration between the theme park and the soon-to-open Kai Tak Sports Park to boost tourism and the economy noting “when more foreign investors come to Hong Kong for mega-events at Kai Tak, they may also head to Disneyland.”

Disneyland is due to reveal its figures on 25th Feb 2025.