(Yicai Global) May 18 -- Hong Kong Disneyland reported its sixth full-year loss in a row as the theme park was shuttered for almost two-thirds of the financial year due to the coronavirus pandemic.

The net loss was HKD2.7 billion (USD347.7 million) in the 12 months ended Sept. 30, Hong Kong Disneyland said in an earnings conference yesterday. Revenue fell 76 percent to HKD1.4 billion. It did not make any forecast for this fiscal year.

The park, located on Lantau, the largest of Hong Kong’s islands, was closed for about 60 percent of fiscal 2020 due to the pandemic, with Disneyland Hotel providing only limited services.

“The park’s team has made flexible adjustments in operation to raise revenues in innovative ways and keep jobs for their co-workers,” said Managing Director Michael Moriarty.

Hong Kong residents have been eager to visit since the resort reopened on Feb. 19 and visitor numbers are rising, the firm said. The volume of people signing up for an annual pass has reached the highest since they were introduced in fiscal 2011.

Moriarty said he was optimistic about the future and noted that Hong Kong Disneyland will help the revival of tourism in the special administrative region.

But Hong Kong’s local tourists will not be enough to make up for the dramatic decline in overseas visitors. The resort had 1.7 million visitors in the last fiscal year, a 73 percent slump, and 75 percent were locals. Spending per head dropped 18 percent, and hotel occupancy plunged to 15 percent.

Editor: Tom Litting