Hong Kong Disneyland Unveils Multi-Year Expansion Plan

   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)

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