On 25 February, Hong Kong Disneyland Resort released its results for the financial year 2023-2024 (up to the end of September 2024). The latest disclosure shows that the theme park and resort recorded 8.8 billion HKD (1.13 billion USD) in revenue, up 54% year-on-year (YoY).
More importantly, the financial year saw the Hong Kong Disneyland Resort not only turn a profit for the first time in 10 years but also break the record for the highest profit since the park opened in 2005 at 838 million HKD (107.81 million USD). EBITDA also grew 1.4 billion HKD (180.1 million USD) YoY to 2.3 billion HKD (295.9 million USD) during this period.
Between October 2023 and September 2024, the resort welcomed over 7.7 million visitors, a 20% YoY increase, also the highest since its opening. The hotels in the resort experienced 88% occupancy, up from 73% in the previous year. The influx is mostly attributed to the rebound of visitors from the Mainland and Southeast Asia countries after border control opened up post-pandemic. Another key driver of visitors was the new “World of Frozen” themed area, which opened in November 2023.
The Hong Kong Disneyland resort is sometimes called “the smallest Disney resort in the world”, with its size just half of Tokyo Disneyland. It has been engaging in an uphill battle competing with Shanghai Disneyland that opened in 2016, 9 years ago. The park is now focusing on future expansion with a Marvel-themed area planned.
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