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Media & Entertainment

Hong Kong Disneyland loss hits $342m despite higher local visits

Government-backed theme park to press on with expansion plan

Hong Kong Disneyland's managing director says the park has no plans to cut staff or seek further government funding.    © Reuters

HONG KONG -- Hong Kong Disneyland Resort has reported a record loss of 2.66 billion Hong Kong dollars ($342 million) for fiscal 2020, its sixth consecutive year in the red.

Michael Moriarty, who took the post of managing director in December, told reporters that the theme park has no plans to lay off staff or seek additional funding from the government, which owns 53% of Hong Kong Disneyland through a joint venture with Walt Disney Co. The partners plan to press on with a HK$10.9 billion expansion to add new attractions, he said.

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