Disney Close to Shanghai Disneyland Deal
Walt Disney are close to signing off an agreement with the Chinese government after years of negotiating to host a theme park in mainland China.
Shanghai Disneyland is quickly becoming a reality after an initial breakthrough was made earlier in autumn between Disney executives and Chinese authorities. The company plans to spend up to $5 billion (£3 billion) building a 3,000 acre park to rival Florida’s Disney World in Orlando.
Chief executive officer Bob Iger addressed a press conference in New York last week, confirming that a deal should be signed by the end of the first quarter of 2010 to begin construction. The project will not be completed until 2014, but already the demand is palpable.
“Three-hundred million people live within a two-hour trip to Shanghai. That’s like all of America living within a two-hour trip to Orlando,” Iger said, according to the Orlando Sentinel, “I like that.” The new park will encompass not only rides and attractions but also a hotel resort for visiting tourists to stay.
In the meantime, customers wanting to experience the magic of Disney can still visit Disneyland Paris. Numbers to Disney’s resorts have fallen by 7 per cent this year, but the drops were most pronounced at the European resort, with hotel occupancy rates suffering due to decreased demand and unfavourable exchange rates.
As a result, a number of special offers have been promoted in order to encourage bookings in France. Interest should peak this week with the release of Disney’s new film, The Princess and the Frog, which was the top grossing film this weekend in the States and Canada. The film took $25 million at the box office over the weekend.
City Break Destinations News posted by Alicia Cruise on 14 December 2009
