Disney has started work to transform its Hong Kong theme park – part of a six-year masterplan to introduce a host of new experiences and characters.

The plan, worth HK$10.9bn (US$1.39bn, €1.18bn, £1.05bn), aims to address problems for the struggling Disneyland Hong Kong and make the park profitable again.

Marvel’s presence at the park is being significantly expanded, with a new experience featuring Ant-Man, The Wasp and Shield to be launched in Tomorrowland. The Marvel-themed area will add to the Iron Man Experience – the park’s most popular attraction – which Disney hopes will make it “Asia’s Marvel epicenter”.

The company’s smash hit Moana gets its first first outing at a Disney park, with a new entertainment zone in Adventureland. Taking the form of a live stage show, guests will also get the opportunity to meet Moana in person.

An entire themed Frozen area – to debut in 2020 – is a first for Disney parks, with a recreation of Arendelle featuring a lake, ice mountain, two rides, shops and restaurants. Guests will also be able to meet the film's stars, Elsa and Anna.

The park’s castle – currently Disney’s smallest at 77-feet-tall (23.4 metres) – will be “supersized” to match its other parks. The transformation will also feature new day and night shows.

“We're creating first-of-a-kind experiences based on some of Disney’s best brands,” said Samuel Lau, executive vice president and managing director of Disneyland Hong Kong. “Marvel and Frozen are popular with guests across our Asian markets and the new expansion will greatly enhance the appeal of the park to guests of all ages and genders in the region. It will give guests new reasons to travel to the resort and this amazing city.”

Despite the operator having already added more than HK$4.7bn (US$600m, €506m, £454.3m) in new rides and attractions over the past few years, Hong Kong Disneyland failed to break even last year, with the park recording losses of HK$171.1m, (US$22m, €18.6m, £16.6m) and a decline in visitor numbers from 6.8 million to 6.1 million.

The park has recorded losses in eight of the 11 years since it opened.