Walt Disney Co. narrowed the annual loss at Hong Kong Disneyland and said it expects the business to turn profitable “fairly soon” as visitor numbers rise and the park expands.
The net loss shrank to $93 million in the 12 months ended Oct. 2 from a loss a year earlier, according to a Tuesday statement. Park attendance increased 13 percent to 5.2 million visitors, boosting sales 19 percent.
The theme park benefited from a 27 percent surge in arrivals from mainland China in Hong Kong last year as wealth generated in the world’s fastest-growing major economy spurred outbound tourism. The park, a venture between Hong Kong’s government and the Burbank-based company, plans to add rides including “Toy Story Land,” “Grizzly Trail” and “Mystic Point."
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