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Disney's Iger reveals Shanghai about to break even, hints potential for second China park
POSTED 16 Jun 2017 . BY Tom Anstey
Disney's Shanghai park is about to achieve something none of its resorts have managed in the last three decades – breaking even in its first full year of operation.

The US$5.5bn (€4.9bn £4.3bn) attraction, which opened in June last year has now welcomed more than 11 million visitors since its launch.

Speaking to Bloomberg, CEO Bob Iger praised the “extraordinary achievement”, adding that after the first full year of operation that prospects were “really strong for continued success and continued growth.”

The attraction is a joint venture between Disney and the state-owned Shendi Group and represents Disney’s first venture into mainland China and its largest foreign investment ever.

Following comments last year from the Chongqing city government, which said that it was bidding to host a future Disney park, Iger fuelled rumours of a second development in mainland China, saying there was “potential” for a second park. Iger added however that Disney would expand its Shanghai resort first.

“Before we really look to the horizon geographically, we will focus on expanding this park,” he said. “Might we build in another city over time? Yes. There’s a great likelihood that we will.”
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Jobs . News . Products . Magazine
NEWS
Disney's Iger reveals Shanghai about to break even, hints potential for second China park
POSTED 16 Jun 2017 . BY Tom Anstey
Disney's Shanghai park is about to achieve something none of its resorts have managed in the last three decades – breaking even in its first full year of operation.

The US$5.5bn (€4.9bn £4.3bn) attraction, which opened in June last year has now welcomed more than 11 million visitors since its launch.

Speaking to Bloomberg, CEO Bob Iger praised the “extraordinary achievement”, adding that after the first full year of operation that prospects were “really strong for continued success and continued growth.”

The attraction is a joint venture between Disney and the state-owned Shendi Group and represents Disney’s first venture into mainland China and its largest foreign investment ever.

Following comments last year from the Chongqing city government, which said that it was bidding to host a future Disney park, Iger fuelled rumours of a second development in mainland China, saying there was “potential” for a second park. Iger added however that Disney would expand its Shanghai resort first.

“Before we really look to the horizon geographically, we will focus on expanding this park,” he said. “Might we build in another city over time? Yes. There’s a great likelihood that we will.”
RELATED STORIES
Disney taking full ownership of Euro Disney with planned delisting


Disney has once again upped its stake in Euro Disney, increasing total ownership of Disneyland Paris to 97.08 per cent ahead of a planned stock market delisting.
Theme Index: Disney dips as theme parks experience mixed year


Following a period of growth in 2015, the world’s top theme parks have experienced a mixed year, according to the latest edition of the TEA/AECOM Theme Index Report.
Disney delivers 'the impossible' with debut of Avatar land at Animal Kingdom


Disney has celebrated the launch of its new Avatar land at Animal Kingdom with the operator marking the occasion by hosting a ‘Dedication of Pandora’ at the Orlando theme park.
IPs and investment key to growing parks business, says Iger


Disney chair Bob Iger has said that the company must continue to incorporate its most popular IPs into its parks in order to help grow its business.
MORE NEWS
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PortAventura has expanded its offering at Ferrari Land, introducing a new children's area for visitors to the popular destination as it attempts to reach 5 million visitors in 2018.
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Blackpool Pleasure Beach has debuted its highly-anticipated steel launch coaster – Icon – which opens to the public today (25 May).
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The Omaha Henry Doorly Zoo and Aquarium is set to launch its brand new US$22m (€18.8m, £16.4m) Asian Highlands Exhibit, taking visitors to the Himalayan mountains and grasslands of Northern India.
Comcast potentially hijacking Disney's Fox deal with new bid
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+ More news   
LATEST JOBS
Visitor Experience Manager
Tate
Salary: £27,769 per annum (inclusive of a £2,500 per annum MRA)
Job location: London, UK
Event Sales Manager
Madame Tussauds
Salary: Competitive
Job location: Hollywood, Los Angeles, CA, USA
Project Manager
Merlin Entertainments Group
Salary: Competitive
Job location: Lake Wales, FL, USA
Operations Manager
Legoland Discovery Centre
Salary: Competitive
Job location: Columbus, OH, USA
Aquarist
Sea Life
Salary: Competitive
Job location: Dallas, TX, USA
SEA LIFE Grounds Team Lead
Sea Life
Salary: Competitive
Job location: California, USA
+ More jobs  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
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LEISURE MEDIA PRODUCT SEARCH
ATTRACTIONS MANAGEMENT NEWS
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PRINT SUBSCRIPTIONS
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