Hong Kong Disneyland May Need to Refinance

8 Feb

The Standard reports that Hong Kong Disneyland’s falling attendance levels may force a refinance:

“If these trends do not significantly improve,” Hong Kong Disneyland will not meet performance promises it made to bank lenders, Disney said in a filing with the US securities regulator.

Disney will then be forced to refinance the US$294 million (HK$2.29 million) in debt taken out for the park.

“The early going in Hong Kong has been more challenging than we had hoped,” Disney chief financial officer Tom Staggs told analysts gathered at Walt Disney World in Florida for the company’s 2007 investor conference.

“The decreases at Hong Kong Disneyland … were primarily due to lower attendance and guest spending,” the company said in its report.

If I only had enough frequent flier miles saved up, I’d gladly go spend a couple bucks there to help the cause.

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