'Plenty of opportunity for expansion in China' says Iger as Shanghai booms | attractionsmanagement.com news
POST YOUR JOB ONLINE
Free ezine/digital edition sign up
Jobs . News . Features . Video . Products . Magazine . Handbook . Advertise . Contact us  
NEWS
'Plenty of opportunity for expansion in China' says Iger as Shanghai booms
POSTED 10 Aug 2017 . BY Tom Anstey
Disney chair Bob Iger has said that there is “plenty of opportunity for expansion” in China, as its parks division, buoyed by the operator’s overseas ventures, enjoyed a strong third quarter of the fiscal year.

In its latest earnings report, an increase in visitor spending at Disney's Shanghai and Paris resorts contributed to strong growth for the company's parks and resorts division, with revenues growing 12 per cent to nearly US$5bn (€4.17bn, £3.76bn) and operating income increasing 18 per cent to US$1.17bn (€996m, £899m).

Specifically in Shanghai, the earnings results reflected the company’s first full quarter of operations, compared to the previous year, which included opening costs.

“This is basically a national tourist destination,” said Bob Iger, speaking on the success of the Shanghai park in its first year. “It is a very, very well-received product in China, and we have plenty of opportunity for expansion.”

Disney has already started work on expanding its Shanghai park, with construction already underway on the new Toy Story Land, which is scheduled to open in 2018. Speaking during the earnings call, Iger alluded to further expansion beyond Toy Story, though what that could be is still under wraps.

Shanghai Disneyland has had greater initial success than any other Disney park, with the attraction on course to break even in its first full year of operation – something no Disney park has managed to achieve in the last three decades.

In terms of major expansion, in a previous interview Iger hinted at the possibility of a second Disney development in mainland China, saying there was “potential” for a second park. He added however that Disney would expand the Shanghai resort first.
RELATED STORIES
Disney's Parks and Resorts division performs well with strong overseas growth


An increase in visitor spending at Disney's Shanghai and Paris resorts has contributed to strong growth for the company's parks and resorts division, according to its latest earnings report.
Disney's Iger reveals Shanghai about to break even, hints potential for second China park


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.
MORE NEWS
Lasipalatsi building refurbishment finishes as Amos Rex announces August opening
Amos Rex, a new art museum in Helsinki, is set to open in August 2018, following the refurbishment of the Lasipalatsi building in Central Helsinki.
Opening of Caribbean's first adventure theme park increases tourism potential for Trinidad
Trinidad's tourism industry could be about to get a significant boost, following the launch of the Caribbean's first ever adventure theme park.
New Tate St Ives in the running for 2018 Stirling Prize
Tate St Ives is the only leisure building to find its way onto the shortlist for the 2018 RIBA Stirling Prize for the UK’s best new building.
British Museum seeks to acquire 'Trump Baby' for dissent exhibition
London's British Museum is planning to borrow the Trump Baby blimp, which flew over the capital's streets last week in protest against US President Donald Trump's visit last week.
+ More news   
LATEST JOBS
Business Turnaround Manager
The Jockey Club
Salary: Up to £55,000 (depending on experience) + pension
Job location: Newmarket, UK
Visitor Services Supervisor
Royal Botanic Gardens Kew
Salary: £24,835 per annum
Job location: Wakehurst, West Sussex
Overnight Accommodation Manager
Zoological Society of London
Salary: £31,464 per annum
Job location: London, UK
Forest Centre Operations Manager
Forestry Commission
Salary: £29,695 - £32,811
Job location: Thetford, UK
Marketing Manager
Legoland Discovery Centre
Salary: Competitive
Job location: Kansas City, Missouri, USA
Marketing Manager
Legoland Discovery Centre
Salary: Competitive
Job location: Melbourne VIC, Australia
+ More jobs  

COMPANY PROFILE
DJW

David and Lynn Willrich started the company over 30 years ago from the AV department of the [more...]
+ More profiles  
FEATURED SUPPLIER

IAAPA ASIA 2018: WhiteWater signs exclusive distribution deal with Life Floor
WhiteWater has entered into a new partnership with flooring manufacturer, Life Floor. [more...]
VIDEO GALLERY

ParadropVR by Frontgrid
Offering a truly immersive VR experience. Find out more...
More videos:
Experience the experience – Polin Waterparks & Pool Systems
Red Raion - VR/5D Films Showreel 2016 – Red Raion
The innovative fun climbing concept – Clip 'n Climb
+ More videos  

CATALOGUE GALLERY
 

+ More catalogues  
ATTRACTIONS DIRECTORY
+ More directory  
ATTRACTIONS DIARY

28 Aug - 01 Sep 2018

World Leisure Congress 2018

tbc, Sao Paulo, Brazil
23-27 Sep 2018

EAS (Euro Attractions Show) 2018

RAI Exhibition and Convention Centre, Amsterdam, Germany
+ More diary  
LATEST ISSUES
+ View Magazine Archive

Attractions Management

2018 issue 2


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2018 issue 1


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2017 issue 4


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2017 issue 3


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management News

11 Jul 2018 issue 108


View on turning pages
Download PDF
View archive
FREE digital subscription
Print subscription

Attractions Handbook

2018


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription
 
ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
 
ATTRACTIONS MANAGEMENT
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
ADVERTISE . CONTACT US

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

©Cybertrek 2018
Jobs . News . Products . Magazine
NEWS
'Plenty of opportunity for expansion in China' says Iger as Shanghai booms
POSTED 10 Aug 2017 . BY Tom Anstey
Disney chair Bob Iger has said that there is “plenty of opportunity for expansion” in China, as its parks division, buoyed by the operator’s overseas ventures, enjoyed a strong third quarter of the fiscal year.

In its latest earnings report, an increase in visitor spending at Disney's Shanghai and Paris resorts contributed to strong growth for the company's parks and resorts division, with revenues growing 12 per cent to nearly US$5bn (€4.17bn, £3.76bn) and operating income increasing 18 per cent to US$1.17bn (€996m, £899m).

Specifically in Shanghai, the earnings results reflected the company’s first full quarter of operations, compared to the previous year, which included opening costs.

“This is basically a national tourist destination,” said Bob Iger, speaking on the success of the Shanghai park in its first year. “It is a very, very well-received product in China, and we have plenty of opportunity for expansion.”

Disney has already started work on expanding its Shanghai park, with construction already underway on the new Toy Story Land, which is scheduled to open in 2018. Speaking during the earnings call, Iger alluded to further expansion beyond Toy Story, though what that could be is still under wraps.

Shanghai Disneyland has had greater initial success than any other Disney park, with the attraction on course to break even in its first full year of operation – something no Disney park has managed to achieve in the last three decades.

In terms of major expansion, in a previous interview Iger hinted at the possibility of a second Disney development in mainland China, saying there was “potential” for a second park. He added however that Disney would expand the Shanghai resort first.
RELATED STORIES
Disney's Parks and Resorts division performs well with strong overseas growth


An increase in visitor spending at Disney's Shanghai and Paris resorts has contributed to strong growth for the company's parks and resorts division, according to its latest earnings report.
Disney's Iger reveals Shanghai about to break even, hints potential for second China park


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.
MORE NEWS
Lasipalatsi building refurbishment finishes as Amos Rex announces August opening
Amos Rex, a new art museum in Helsinki, is set to open in August 2018, following the refurbishment of the Lasipalatsi building in Central Helsinki.
Opening of Caribbean's first adventure theme park increases tourism potential for Trinidad
Trinidad's tourism industry could be about to get a significant boost, following the launch of the Caribbean's first ever adventure theme park.
New Tate St Ives in the running for 2018 Stirling Prize
Tate St Ives is the only leisure building to find its way onto the shortlist for the 2018 RIBA Stirling Prize for the UK’s best new building.
British Museum seeks to acquire 'Trump Baby' for dissent exhibition
London's British Museum is planning to borrow the Trump Baby blimp, which flew over the capital's streets last week in protest against US President Donald Trump's visit last week.
+ More news   
LATEST JOBS
Business Turnaround Manager
The Jockey Club
Salary: Up to £55,000 (depending on experience) + pension
Job location: Newmarket, UK
Visitor Services Supervisor
Royal Botanic Gardens Kew
Salary: £24,835 per annum
Job location: Wakehurst, West Sussex
Overnight Accommodation Manager
Zoological Society of London
Salary: £31,464 per annum
Job location: London, UK
Forest Centre Operations Manager
Forestry Commission
Salary: £29,695 - £32,811
Job location: Thetford, UK
Marketing Manager
Legoland Discovery Centre
Salary: Competitive
Job location: Kansas City, Missouri, USA
Marketing Manager
Legoland Discovery Centre
Salary: Competitive
Job location: Melbourne VIC, Australia
+ 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
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS