Hong Kong Disneyland Unveils Multi-Year Expansion Plan
November 22 2016 - 2:25AM
Dow Jones News
By Chester Yung
HONG KONG--Hong Kong's Disney theme park on Tuesday unveiled an
expansion plan that includes new attractions to open from 2018
through 2023, in a bid to lift attendance amid weak financial
results and competition with the much-larger Shanghai Disneyland,
which opened in June.
The expansion plan will cost about US$1.4 billion and is subject
to approval by the Hong Kong legislature, said Hong Kong
Disneyland. The them park is 53%-owned by the city's government,
with the rest owned by Walt Disney Co. (DIS).
Hong Kong Disneyland, the smallest of all Disney theme parks,
said in February it swung to a net loss of 148 million Hong Kong
dollars (US$19.0 million) for the last fiscal year ended October
2015, dragged down by lower attendance as China's economic slowdown
hurt tourism.
Write to Chester Yung at chester.yung@wsj.com
(END) Dow Jones Newswires
November 22, 2016 03:10 ET (08:10 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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