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Hong Kong Disneyland posts record profit in fiscal year 2012

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ETW STAFFMumbai

Hong Kong Disneyland (HKDL) reported a net profit of HK$109 million for the year ended September 29, 2012, attributing the results to record revenues driven by timely expansion, strong sales and marketing strategies, and effective cost management. This is the first annual profit since the resort opened in September 2005.

HKDL’s total revenues during the year increased 18 per cent to HK$4,272 million from the previous year’s HK$3,630 million. Attendance was 6.7 million and hotel occupancy was 92 per cent, both company records. The resort also saw a 6 per cent increase in theme park per capita guest spending during the year.

The opening of two new themed areas, Toy Story Land in November 2011 and Grizzly Gulch in July 2012, proved popular among local and overseas guests. The openings also contributed to an increase of more than 40 per cent in the number of Magic Access (annual pass) holders to around 195,000 in fiscal 2012.

The results reflect the continued growth of HKDL in the past five years, during which annual attendance has grown to 6.7 million from 4.5 million, and revenues have grown to HK$4,272 million from HK$2,568 million. Andrew Kam, managing director, HKDL said, “It is very encouraging to see such a significant improvement in our business over the past five years, in particular the record-breaking results that we achieved in fiscal 2012. Attendance, hotel occupancy and guest spending levels continued to reach all-time highs. The opening of Toy Story Land and Grizzly Gulch, together with strong sales and marketing strategies, have been key drivers for our growth. The success of this year is a significant achievement for all of our cast members, who have contributed to this very exciting time.”

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