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The reported more than $7 billion in revenue for the fourth quarter of 2021, but one isn’t making money at all.
Credit: South China Morning Post
reported a loss of HK $2.4 billion, or almost $307 million USD, for its last financial year, bringing the ‘s number of years in a row with no profit to seven.
Per the South China Morning Post, “the results for the financial year ending on September 30, 2021, revealed by the company on Monday, were 12% lower than the HK $2.66 billion shortfall recorded for the preceding 12 months.”
On January 6 of this year, closed for the fourth time since the coronavirus pandemic began in early 2020. Since that time, the has extended its closure several times as management continually reevaluates the risks associated with the COVID-19 virus. Unlike in Florida and in California, has failed to remain open to since its initial reopening.
According to reports from management, the , which is located in Penny’s Bay on in , was not in operation for approximately 40% of the calendar days over the last financial year because of the government requirements regarding COVID-19 procedures and protocol.
Images Credit: Disney Parks/Clipart
Though the saw a significant loss in revenue because of a low number of operating days, its total attendance did see a rebound of 64% to 2.8 million year on year, according to the South China Morning Post. The majority of those visitors were residents.
Revenue loss at was not only due to the low number of operating days during which could visit the , but also because the country saw a “near-absence” of tourism, which usually accounts for at least a part of the ‘s revenue.
Credit: Disney Parks
remains closed and is poised to keep its gates locked until at least April 20. However, that date could be extended if it is determined that the risk of spreading COVID-19 is too great with the open.
