HK Disneyland 'to be debt-free by end-2025'
Michael Moriarty said the upcoming two expansions will be "game-changers" for Hong Kong Disneyland. Photo: RTHK
Hong Kong Disneyland will be debt-free by the end of this year, its managing director declared, after fully paying off loan terms from the SAR government and its parent Walt Disney Company.
After a record year which saw both park attendance and revenue soar to new highs, the resort is looking to lure more visitors by building two more attractions and rolling out discount bundle packages.
Disneyland revealed in its 2024 business review that it had repaid 40 percent of the term loans at the end of the fiscal year ending 28 September.
In a media interview, managing director Michael Moriarty confirmed the rest will be settled within this year.
"We're going to be debt-free and our cash balance is continuing to grow, which is going to afford us the opportunity to invest in new expansion through the joint venture, with no need for additional cash injections from either shareholder," he said, referring to the SAR government and the Walt Disney Company.
"We're going to take a look at all of those things as we continue to grow and do it prudently and do it in a way that's going to provide consistent year-over-year growth."
Meanwhile, two new projects have broken ground, marking the first time the resort is building a pair of attractions simultaneously since 2011.
A Pixar Entertainment experience will open to the public first, followed by a Marvel-themed expansion.
Moriarty described the expansions as "game-changers", but said he was not ready yet to reveal the launch date.
"The Marvel expansion is going to be very, very exciting. The creative is almost complete and we are working with the studios at Marvel to make it even more special for Hong Kong," he said.
Moriarty also said the park is hoping on ride on the success of Kai Tak Sports Park.
Disneyland is partnering with travel companies to roll out packages for visitors to visit the theme park and attend upcoming concerts by South Korean pop star G-Dragon and girl group Blackpink.
He said park attendance has been strong from fly-in markets such as South Korea, Japan and Taiwan, adding figures would be revealed later.
Moriarty said another focus is the Greater Bay Area market, citing the multiple-entry permits for Shenzhen residents and the upcoming Southbound Travel Scheme for Guangdong motorists.
"What is really happening is that Hong Kong and maybe an hour or two's drive is really becoming a larger living circle for the region," he said.
"These parking spaces that are being proposed for Lantau are very interesting and a way of making it more friction-free for travellers to come to Hong Kong. We are actively working with the government on this project."
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