Disneyland Paris ( Formerly Euro Disney )

1291 WordsApr 26, 20176 Pages
Disneyland Paris (formerly Euro Disney) While Tokyo Disneyland is considered a great success, the Walt Disney Company’s next international theme park venture, Euro Disney, is quite the opposite. In the 1980’s with the great success of Tokyo Disneyland, TWDC entertained the idea of building another international theme park. The Walt Disney Company knew they wanted to build a park in Europe but needed to find a place where they could build their own reality free from the sights and sounds of the real world. The Walt Disney Company chose Marne-la-Vallee in France over 200 other sites in Europe because of the “willingness of the French government to offer cheap and plentiful land, cheap loans, road and rail links to the park, tax breaks, and…show more content…
Four years later, the theme park finally saw a record-breaking year where 11.7 million guests visited (Guyot, 2001). In more recent years, the number of guests visiting the theme park seems to be dropping. In 2015, park attendance at the theme park dropped 4.5% according to a Global Attractions Attendance report (Lockett, 2015). In its 2016 annual report, the Walt Disney Company stated that Disneyland Paris saw park attendance decrease in 2016 (p.26). Low attendances numbers for the theme park has led to a lot of financial issues over the years for the theme park in Paris. By deciding to build the entire resort at once, the Walt Disney Company assumed a lot of debt. During the first two years of operation, Euro Disney’s park attendance and hotel occupation were below what the Disney Company had estimated. According to Gumbel and Turner (1994) in a Wall Street Journal article, “as of Dec. 31, Euro Disney, which opened in April of 1992, had a cumulative loss of 6.04 billion francs or $1.03 billion” (p. A1). Euro Disney was struggling financially and something had to be done to save the park. The Walt Disney Company CEO at the time, Michael Eisner, negotiated a deal with the banks helping to finance the project in France and in the US to restructure the debt of the park in order to save it from closing down. This deal included the Walt Disney Company agreeing to have a

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