Hong Kong Disneyland on Monday said the park is well-positioned to benefit from a pick-up in tourism, after posting a loss of HK$2.1 billion for last year.

The theme park has been in the red for eight consecutive years, but its losses narrowed 12 percent on the previous year, as the number of local visitors hit a record high of 3.4 million.

The park’s managing director, Michael Moriarty, said Disneyland is making a strong comeback as the city reopens itself to the rest of the world.

“The market is recovering and we don’t have a crystal ball on where the market is going or how fast it’s recovering. But what I can say right now is that we’re better than the market,” he said.

Moriarty added that while more flights are needed to further boost visitor numbers, the park is already looking to hire 1,000 extra staff to beef up its services.

The attraction, which currently opens five days a week, will start operating six to seven days a week from June.

A new area themed around the "Frozen" movies will also open in November.