Friday, June 16, 2017

Bob Iger Says That "There is a Great Likelihood That Disney Will Build Another Theme Park in China” !

Shanghaî Disneyland is celebrating its first anniversary tomorrow with more than 11M guests during the first year and Bob Iger said in a Bloomberg interview posted today that "there is a great likelihood that Disney will build another theme park in China" and "in another city", meaning that he don't talk about Shanghaî or Hong Kong.
Excerpts from the Bloomberg article: Walt Disney Co.’s ambitious $5.5 billion Shanghai theme park is close to breaking even after its first full year of operations -- a mark none of its resorts have been able to hit in the last 30 years, said Chief Executive Officer Bob Iger.

“That’s an extraordinary achievement. I’m not sure we’ve ever done that,” said Iger in an interview with Bloomberg Television’s Tom Mackenzie on Friday as the Shanghai Disney Resort celebrated its first anniversary. “After the first year, I’m pleased to say that prospects are really strong for continued success and continued growth.”

The park logged more than 11 million visitors earlier this week, Iger said. The Shanghai development, Disney’s first in mainland China and its largest foreign investment, throws the Burbank, California-based giant into the race to dominate the country’s $204 billion media and entertainment industry.

Half the resort’s visitors are from Shanghai and adjacent areas, with the remainder coming from other Chinese cities, Iger said. Park attendance is higher than expected, with “extremely high” occupancy rates at its hotel. The food and beverage business, as well as merchandising, has faced some challenges, he said.

The resort’s attendance for the 12 months after its opening puts it in the top seven of theme parks worldwide, ahead of Disney’s Hong Kong and Paris parks but behind its most popular parks in Florida, California and Japan.

In China, there’s potential for Disney to build a second park in the long run, Iger said, adding it would focus on the Shanghai resort first. A Toy Story themed land opening is planned for next year.

“Before we really look to the horizon geographically, we will focus on expanding this park,” Iger said. “Might we build in another city over time? Yes. There’s a great likelihood that we will. But it’s way too early.”

Read the full Bloomberg article HERE and below is the video of the full interview of Bob Iger.

Video: copyright Bloomberg


Brandon said...

What about the land purchased in India? Is that no longer a consideration for a new Disney Location?

Alain Littaye said...

I'm pretty sure they will build a park in India, but India, partly for economic reasons, may have to wait another 10 - 20 years before it happen.