Hong Kong Disneyland has revealed that it narrowed its net loss during 2011 to HK$237 million (US$30.5 million), aided by a 13% boost in attendance.
The park, which has struggled since its 2005 debut, saw its visitor numbers rise from 5.2 million to 5.9 million for the year ending October 1, 2011. This brought the total number of visitors to the park to 31 million since its opening day, although this is short of initial expectations.
To further improve its attendance figures, Hong Kong Disneyland is currently investing in a major expansion that will be completed in 2013. One new land, Toy Story Playland, has already opened to the public, with two significantly more ambitious lands, Grizzly Gulch and Mystic Point, under construction. Grizzly Gulch will feature a major new rollercoaster dubbed Big Grizzly Mountain, while Mystic Point will feature a new dark ride known as Mystic Manor.
Hong Kong Disneyland has insisted that it will not be impacted by the planned debut of Shanghai Disneyland in 2015, although concerns have been raised over the impact on attendance at the Hong Kong park. Visitors from mainland China currently account for 42% of Hong Kong Disneyland's attendance.
The park has drawn unfavorable comparisons with Disneyland Paris - which has never rivalled the financial performance of the chain's U.S. parks. Currently Disney's smallest park, it plans to increase its size by 20% through the expansion. The Hong Kong government, which owns 57% of the park, hopes that the project will drive an increase in annual attendance to 8.4 million by 2015.
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