The Hong Kong Disneyland theme park managed a 22% increase in visitor numbers in its most recent financial year allowing it to modestly reduce its annual losses. The park, which is jointly owned by…
theme park managed a 22% increase in visitor numbers in its most recent financial year allowing it to modestly reduce its annual losses.
The 2021-2022 financial year was again complicated by the city’s strict anti-COVID restrictions. It was fully closed for three and a half months and operated under other social distancing and pandemic measures. Additionally, inbound tourism was heavily curtailed, especially from mainland China. That meant that during the reporting period, the park and hotels were largely visited by locals only.
Disney has deferred its royalty payments for the 2022 financial year and increased its loans to the facility from HK$2.1 billion to HK$2.7 billion since November 2022. The EBITDA losses also mean that Disney cannot levy a management fee. The base management fee is set at 6.5% of EBITDA with a variable management fee of zero to 8% of EBITDA.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New Yorkers Are Lining Up at This New Hong Kong-Style Cafe Located UndergroundMabu Cafe is the first United States location of a small chain of Chinese and Taiwanese restaurants based in Toronto, Canada. (via EaterNY)
Read more »
HKEX launches China-Hong Kong Swap Connect to help offshore bond investors hedgeAside from helping offshore investors to manage interest rate risk, the scheme will improve efficiency of clearing and capital usage, said Bank of China (HK).
Read more »
The Story Behind the Iconic 'Vanderpump Rules' Theme SongSinger Dena Deadly opens up about “Raise Your Glass,” the theme song that 'Vanderpump Rules' fans can’t get out of their heads
Read more »
Disney World ending theme park reservation requirementsA few changes are in the works for Walt Disney World.
Read more »
Disneyland’s unofficial mascot has passed awayNutmeg, one of the “Disneyland cats,” was so popular, he has artwork and a cocktail dedicated to him in the park.
Read more »
China sentences 78-year-old US citizen to life in prison on spying chargesJohn Shing-Wan Leung, who holds permanent residency in Hong Kong, was detained April 15, 2021, by the counterintelligence agency in the southeastern city of Suzhou.
Read more »