Hong Kong Disneyland reports first-ever annual profit

The Happy Kingdom made a profit of HK109 million for the fiscal year ended September 29.

It is Hong Kong Disneyland’s first profit since it opened its doors in 2005. This welcome performance contrasts with a loss of HK237 million year-on-year.

Revenue rose 18% to HK$4.27 billion. Occupancy at the resort's two Disney-themed hotels rose to 92% from 91%.

The profit was mostly due to a boost from record attendance. The theme-park operator said the turnaround resulted from a 13% increase in visitors to 6.7 million people.

Tourists from mainland China remained accounted for 45% of Hong Kong Disneyland’s visitors. Visitors from Hong Kong rose slightly to 33% from 31%.

The Hong Kong government owns 52% of the park and Walt Disney Co. owns the rest. Hong Kong Disneyland is the smallest of Disney's global theme parks.