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June 25, 2024, HONG KONG – Hong Kong Disneyland Resort (HKDL) today shared its business results for the fiscal year of 2023 (FY23) and the latest resort developments. The theme park reported record-high local attendance and an encouraging rebound in mainland China and overseas visitation compared with pre-pandemic levels.
(With a year-end date on the Saturday closest to, if not on, 30 September, the fiscal year consists of 52 weeks with the exception that approximately every six years, the fiscal year comprises a 53-week period. Fiscal 2023 and 2022 were both a 52-week year ending on 30 September 2023 and 1 October 2022, respectively.)
The resort also announced a profit in calendar year 2023, driven by the success of a holistic strategy to create lifelong memories among local guests and robust campaigns that reignite tourists’ intent to visit following the resumption of inbound tourism in early 2023.
“We have entered a new era. I am extremely proud of all we have accomplished at Hong Kong Disneyland Resort in the lead-up to our 20th anniversary, achieving profitability in calendar year 2023 and our rebound in visitors outpacing the overall Hong Kong tourism market ,” said Michael Moriarty, managing director, Hong Kong Disneyland Resort.
(HKDL’s non-local attendance recovery has outpaced Hong Kong’s total visitor arrival recovery according to figures from the Hong Kong Tourism Board, comparing the same period in 2023 and 2018.)
“And the strong momentum continues. The first quarter of calendar year 2024 was our most successful quarter ever, achieving record levels of revenue, EBITDA and net income.”
Moriarty added that HKDL has firmly established itself as a key driver and contributor to Hong Kong’s economy and community through its ongoing investment in bespoke attractions, experiences and storytelling, as well as its corporate citizenship efforts.
“Through a series of record-breaking achievements, fueled by creativity and innovation, including our new signature offerings — the reimagined Castle of Magical Dreams, ‘Momentous’ Nighttime Spectacular and most recently, World of Frozen, we have become a drawcard for Hong Kong tourists,” Moriarty added.
“We’ve created a unique, world-class tourist destination in the Greater Bay Area for our guests in Hong Kong and the region, who have embraced Disney in their own favorable way.”
The rebound of non-local guest attendance outpaced Hong Kong’s overall visitor arrivals recovery in calendar year 2023 when compared with 2018 levels. This positive momentum continued in Q1 of calendar year 2024. Rebound in mainland guest attendance was particularly strong.
Strong FY23 Business Performance
In FY23, HKDL delivered solid financial performance across the board with strong growth compared to the prior fiscal year, despite the impact of travel restrictions under the pandemic for nearly half of the fiscal year.
(Hotel utilisation is calculated based on adjusted available capacity, which excludes room inventory temporarily removed from service having regard to a number of factors, such as the temporary closure of hotel rooms for planned renovation and management’s best estimates of the market situation and operational needs.)
HKDL’s local guest affinity continued to grow, with FY23 seeing historically high local attendance, including record attendance among young adults and students from Disney Youth Programs.
In December 2023, the resort marked an important milestone, welcoming its 100 millionth guest since opening in 2005.
Notably, in December 2023, HKDL fully repaid the revolver facility funded by a subsidiary of The Walt Disney Company and has not drawn on it thereafter.
Key Accomplishments
Continued Contributions to Hong Kong’s Economy and Community
HKDL is dedicated to the Hong Kong community and serving those in need. Throughout the year, the resort remained steadfast in its corporate social responsibility commitments, including:
Non-stop, Year-round Excitement
Throughout 2024, guests will continue to see distinctly Disney, world-class experiences. The opening of World of Frozen, combined with seasonal surprises throughout the year, promises to captivate fans and guests from around the world.
In closing, Moriarty said, “As HKDL celebrates its 20th anniversary next year, stay tuned for thrilling updates and offerings to come!”.
About Hong Kong Disneyland Resort
Hong Kong Disneyland Resort offers unforgettable, culturally distinctive Disney experiences for guests of all ages and backgrounds. Filled with your favorite Disney stories and characters, Hong Kong Disneyland Resort offers guests the opportunity to explore eight diverse lands that are home to award-winning, one-of-a-kind attractions and entertainment. Complete your adventure with stays at the resort’s luxurious Disney hotels. The magic doesn’t end at our doorstep; as a dedicated member of the local community that cares deeply about societal wellbeing, Hong Kong Disneyland Resort spreads its magic through community service programs that help families in need, boost creativity among children and families, encourage the protection of the environment and inspire healthier living.
Mobile app gives the latest updates & helps plan your visit
The Hong Kong Disneyland mobile app keeps guests informed of all the excitement at Hong Kong Disneyland Resort, from operating hours to entertainment schedules. Reserve your park visit and get Disney Standby Pass to meet Disney friends inside the park. Use the GPS-enabled map to find your way around the park or make reservations for park and hotel restaurants, and make every moment count with wait times for each attraction. Magic Access members can also view block-out calendars and membership privileges, designed to make your visit even more magical.
Download the Hong Kong Disneyland mobile app for free:
