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'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.
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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.
MORE NEWS
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KidZania teams up with Nintendo for London Labo experience
Kidzania's London attraction at the Westfield Shopping Centre has made a new addition to the pint-sized indoor city – the Nintendo Labo.
Buffalo Museum of Science reopens renovated observatory after 19 years
The Buffalo Museum of Science in Buffalo, New York, has celebrated the opening of its new digital planetarium, following the redevelopment of its Kellogg Observatory.
+ More news   
LATEST JOBS
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
Facilities Technician
Legoland
Salary: Competitive
Job location: Winter Haven, Florida, USA
Education Specialist
Sea Life
Salary: Competitive
Job location: Kansas City, Missouri, USA
+ More jobs  
 


ADVERTISE . CONTACT US

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

©Cybertrek 2018

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