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By Zhao Runhua / Feb 19, 2019 01:58 PM / Business & Tech

Photo: VCG

Photo: VCG

Hong Kong Disneyland is riding high on record revenue for 2018, helping it narrow its years-long losses.

The amusement resort reported a record-high HK$6 billion ($760 million) in revenue and HK$1.4 billion EBITA for the 2018 fiscal year ended Sep. 29. These represented year-on-year increases of 8% and 48%, respectively.

The figures narrowed Hong Kong Disneyland’s net loss by 84% year-on-year to HK$54 million, the company said. The resort hasn’t profited since the 2012-2014 fiscal years.

Disneyland attributed the improved performance to increased guest spending, with a total of 6.7 million annual visits, and hotel occupancy that improved by 6% year-on-year to 75%. New amusement facilities and celebrity concerts held in the resort may have helped attract visitors as well.

Last year, locals made up 40% of total visitors, but the number of international visitors increased and accounted for a record-high 26% of total attendance. Chinese mainland visitors accounted for 34% of the total attendance.

The new infrastructure connecting the Greater Bay area of Hong Kong, Macau and the mainland should further boost the resort’s commercial potential.

Related: Shanghai Disneyworld Hopes Visitors Go Ape Over Zootopia Expansion

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