HONG KONG – The Hong Kong government and Walt Disney are embarking on a HK$10.9 billion (S$2 billion) expansion of the Hong Kong Disneyland Resort (HKDL), with features that include the world’s first Frozen and Marvel-themed facilities to fend off fierce competition since Shanghai Disneyland opened in June.
The Frozen and Marvel-themed facilities are at the Phase 1 site of HKDL, where land formation work has been completed to facilitate the expansion works.
The government will explore the Phase 2 development of HKDL as its long-term development plan.
“(The expansion) would attract more high-spending and overnight visitors from more diversified market sources, hence benefiting tourism-related industries in Hong Kong,” Secretary for Commerce and Economic Development Gregory So Kam Leung said.
The expansion and development plan will run from 2018 until 2023, and the total number of attractions will increase from about 110 to over 130 after completion.
The plan will also transform the current Sleeping Beauty Castle, which is expected to close to all visitors from next year until 2019.
The government will inject HK$5.8 billion as new capital for the expansion plan into Hongkong International Theme Parks, operator of HKDL, based on the government’s 53 per cent holding in the joint venture company.
The expansion comes after the park’s first descent into the red in five years and large-scale layoffs earlier this year.
It lost HK$148 million last year after three years of profitability, with the number of visitors dipping 9.3 per cent.
