Travel News
- HK Disneyland numbers slump
Date: 19-Dec-2007 Sources: (People's Daily)
Hong Kong Disneyland attendance figures slumped in its second year, prompting its owners, the city's government and Walt Disney Co, to seek financial relief for the struggling theme park.
More than 4 million people visited the park in its second year of operations, the city's Tourism Commission said in a paper to be discussed by lawmakers. In the 12 months after opening in September 2005, more than 5 million people visited, which was less than forecast.
Disney, the second-largest US media company, owns a 43 percent stake in Hong Kong Disneyland with Hong Kong's government, which paid for land reclamation, roads and other supporting works, holding the balance. The theme park last month asked banks to allow it to delay debt repayments, prompting some lawmakers to claim it wasn't designed to cater for local habits and culture.
'It's very regrettable that Hong Kong people have spent billions of dollars to import this brand name and it turned out a big failure,' Frontier Party legislator Emily Lau said yesterday. 'I don't think we should pour more money into it.' Lau said she initially voted against it.
About 39 percent of visitors to the park came from the mainland, 31 percent were local Hongkongers, while international tourists accounted for the rest, the paper said.
Hong Kong's government 'is not satisfied with the performance of the park', the Tourism Commission said in the paper, to be presented to the Legislative Council panel on economic development on Friday. 'The perceptions that the park is too small and that there is 'not enough to do' remain a top barrier to visitation,' it said.
Hong Kong Disneyland agreed with lenders last month to remove debt covenants to help it focus on attracting more visitors. Disney will forgo royalties.
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