Hong Kong Disneyland posts 2016 loss on tourism softness

AP News
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Posted: Feb 20, 2017 5:32 AM

HONG KONG (AP) — Hong Kong Disneyland has posted another annual loss as attendance by mainland Chinese tourists dropped amid a softer tourism market.

The park said Monday that it lost 171 million Hong Kong dollars ($22 million) on revenue of HK$4.8 billion for its most recent financial year, which ended Oct. 3.

Some 6.1 million people visited the park last year. That's down from the previous year, when it drew 6.8 million people and lost HK$148 million.

Visitors from mainland China, a key market for the resort, accounted for 36 percent of total attendance in 2016, down from 41 percent the year before.

Resort owners The Walt Disney Co. and the Hong Kong government last year announced a $1.4 billion expansion for the park, which has been criticized for being too small.