Disney Hong Kong Falls Further

The number of tourists turned through the Disneyland resort in Hong Kong has fallen today over the course of its second year, in news that has been hard to take for both Disney and the Hong Kong government based on the ownership model employed.

The park has been as something of a disappointment since its launch, failing to secure its target visitor numbers in year one by almost half a million and falling further in the second year, with only 4 million in total compared to a 5.2 million tourist number in its initiation year.

The park has also been the subject of criticism for falling below expectations, with fewer attractions and its small overall size, which has no doubt had an adverse effect on performance over the course of the year. Particularly compared with sister resorts in the US and Europe, the Hong Kong resort has come into increased scrutiny by analysts around the world.

The Hong Kong authorities, which hold the majority shareholding, have been harshly critical of the performance of the park, expressing their concern at its early failures and withdrawing funding until the fortunes of the park turn the corner.

“While recognising that the Hong Kong Disneyland is in its early start-up operating phases, the government, as the major shareholder… is not satisfied with the performance of the park,”said the authorities today.

However Disney have hit back, suggesting that the problems were largely due to a slowdown in outward American tourist as a result of the continuing dollar weaknesses and problems overall with the US economy.

Disney meanwhile continued to report profit rises overall throughout its US resorts and in its growing ESPN broadcasting network, which was this week rumoured to be considering a bid for the Premier League football rights when they come for renewal.

Story link: Disney Hong Kong Falls Further