Tuesday, June 18 2013 8:30 AM EDT2013-06-18 12:30:38 GMT
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HONG KONG (AP) -
Disneyland in the southern Chinese city of Hong Kong has turned a profit for the first time since it opened in 2005, as new attractions helped push visitor numbers to a record, theme park officials said Monday.
The park earned 109 million Hong Kong dollars ($14 million) in the year that ended Sept. 29 and its revenue jumped 18 percent to HK$4.27 billion ($550 million). The park drew 6.73 million visitors, 13 percent more than the previous year, with guests spending 6 percent more than a year earlier.
The struggling park's losses had steadily narrowed from HK$1.6 billion in 2008, the year it started disclosing financial figures, to HK$237 million in 2011.
Legislators and analysts have blamed the park's poor performance on its small size. It's the smallest of Burbank, California-based Disney's parks worldwide. But the 311-acre (126-hectare) park, set on reclaimed land on Lantau island, will be a quarter bigger once an expansion is completed later this year.
Hong Kong Disneyland's managing director, Andrew Kam, called the park's swing into profit a "significant milestone."
"The business has turned a corner," said Kam. He said the park expansion was "the most critical success factor that contributed to our result this year."
The $465 million expansion adds three new attractions that Kam said allowed the park to draw more visitors. Two have already opened, including one based on the "Toy Story" series of movies and another with a Wild West theme called "Grizzly Gulch," which Kam said has become the park's most popular draw. The final phase, "Mystic Point," which has a supernatural theme and is set in a rain forest, is scheduled to open by the middle of the year.
Visits by local residents, who accounted for a third of total visitors, rose 21 percent, while those by mainland Chinese, who make up nearly half of the total, climbed 13 percent.
Hong Kong Disneyland opened to great fanfare in 2005, only to miss its attendance targets in the first two years.
The occupancy rate at the resort's two hotels, which have 1,000 rooms in total, edged up by 1 percentage point to 92 percent. Kam said the park was looking at the feasibility of expanding its hotels.
Kam shrugged off fears that a Disney theme park under construction in Shanghai will result in increased competition for Hong Kong, saying that new theme parks would only help promote the industry in Asia.
Hong Kong's government has a 52 percent stake in the park. The Walt Disney Co. owns the remaining 48 percent.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Tuesday, June 18 2013 3:35 PM EDT2013-06-18 19:35:49 GMT
A dog battling cancer managed to hang on long enough to see her owner return from a deployment overseas. According to Jennifer Ralston's YouTube channel, Kermie, an 11-year-old beagle-lab-chow mix, wasMore >>
Kermie, an 11-year-old beagle-lab-chow mix, was diagnosed with oral melanoma just a month after her owner, Eric, was deployed overseas.More >>
Tuesday, June 18 2013 8:38 AM EDT2013-06-18 12:38:30 GMT
In a beautiful home tucked away in the woods of Lexington County, Crystal and Craig Hewitt appear to be living a fairy tale life. But their story, and why two swing sets swing empty in the summer wind,More >>
In a beautiful home tucked away in the woods of Lexington County, Crystal and Craig Hewitt appear to be living a fairy tale life.More >>
Tuesday, June 18 2013 10:54 PM EDT2013-06-19 02:54:15 GMT
A new Subway opening along Highway 41 and Morgan Avenue in Evansville treated dozens of customers to a free sandwich Tuesday evening. It was their way of welcoming folks to the new location. "It'sMore >>
A new Subway opening along Highway 41 and Morgan Avenue in Evansville treated dozens of customers to a free sandwich Tuesday evening.More >>
Tuesday, June 18 2013 9:21 PM EDT2013-06-19 01:21:05 GMT
Monday night's accident in on Interstate 64 in Gibson County claimed the life of a young girl and injured several of her family members. Fort Branch General Baptist Church Pastor Steve Akins has beenMore >>
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Tuesday, June 18 2013 9:23 AM EDT2013-06-18 13:23:30 GMT
A 5-year-old girl set up a lemonade stand across the street from the Westboro Baptist Church compound, and now the group is targeting her. Jayden Sink raised nearly $200 on Friday while she sold lemonadeMore >>
A 5-year-old girl set up a lemonade stand across the street from the Westboro Baptist Church compound, and now the group is targeting her.More >>
Tuesday, June 18 2013 12:44 PM EDT2013-06-18 16:44:56 GMT
SHELBYVILLE, KY (WAVE) – A teenage girl found dead in a Shelby County creek Monday morning has been identified.Deputy coroner Jeff Ivers said Jackleen Lane, 15, of Bagdad, KY drowned. She was last seenMore >>
How Jackleen Lane, 15, ended up in the creek has not been determined.More >>
Tuesday, June 18 2013 3:35 PM EDT2013-06-18 19:35:01 GMT
SAND CREEK TOWNSHIP, IN (WAVE) – A 12-year-old Jennings County boy was accidentally shot in the head by his 16-year-old brother late Monday night while handling firearms in their home, according to theMore >>
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Tuesday, June 18 2013 10:45 PM EDT2013-06-19 02:45:09 GMT
A traffic alert for drivers in Spencer County. Officials tells us that an overturned semi has traffic down to one lane on eastbound I-64 at the Dale, IN exit. There's no word as of now on injuries. CrewsMore >>
Around 4:00 p.m., an overturned semi caused traffic delays in the eastbound lanes that lasted for a few hours while crews cleared the site. More >>
Monday, June 17 2013 6:39 PM EDT2013-06-17 22:39:20 GMT
A lawsuit claims billionaire hardware kingpin John Menard pressured the wife of a business partner to have sex with Menard and his wife and retaliated with firings and lawsuits when she turned him down. Menard'sMore >>
Menard's attorney says Menard categorically denies the claims by Tomisue Hilbert.More >>
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