While Disney might be riding high on its Star Wars successes, things aren’t looking so rosy for its Hong Kong theme park, which posted its first net loss for four years after a slump in Chinese visitors to the attraction.

Disney recorded a net loss of HK$148m (US$19m, €17m, £13.2m) for 2015, according to a report from Hong Kong's Legislative Council Panel on Economic Development.

China’s slowing economic growth has hit Hong Kong attractions hard, with less tourists from mainland China travelling to the city, noted by an overall tourist decrease of 2.5 per cent to 59.32 million visitors, with mainland visitors accounting for roughly three quarters of that figure.

Visitor numbers for Hong Kong Disneyland (HKDL) for the year were 6.8 million – a 9 per cent drop on 2014’s figures. Despite this number being the third-highest attendance since HKDL opened in 2005, the drop in attendance, combined with low hotel occupancy rates, meant year-on-year figures saw an earnings decrease of 36 per cent.

“During 2015 the tourism industry of Hong Kong was greeted with great challenges due to external factors as well as overall market condition and sentiment,” said the report. “Overnight tourists to Hong Kong, as a major source of guests for HKDL, also recorded a decline in numbers owing to the external environment, in particular the exchange rate factor. In the light of the changes in number and structure of overnight tourist arrivals to Hong Kong, the business of the HKDL was also considerably impacted.”

The report addressed the intensifying competition for HKDL in the region with the imminent arrival of Shanghai Disneyland in June, stating that the Hong Kong park has a planned series of developments in the pipeline “in order to give full play to its international features, and maintain its distinctiveness and competitiveness,” also alluding to making use of the Star Wars success, as well as the likes of Frozen and Inside Out with the introduction of new seasonal entertainment offerings and experiences.

HKDL is expecting growth for 2016 with the debut of its new themed area based on the Marvel franchise, while long-term the government is discussing plans with Disney for further development of the park, including a phase two expansion.

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