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‘One tiger no match for a pack of wolves’ says Wanda chair warning Disney off China
POSTED 24 May 2016 . BY Tom Anstey
Wang had previously made his intentions towards Disney known, promising Wanda would surpass it as the world’s largest tourism enterprise by 2020
Wanda chair Wang Jianlin has taken aim at Disney, telling the company that “one tiger is no match for a pack of wolves” as Disney prepares to launch its first resort in China next month.

Making the comments during an appearance on China Central Television, multi-billionaire Wang escalated the rivalry between Wanda and Disney, as he aims to make his company the most powerful tourism entity in the world.

Wanda, which mainly operates in China and parts of Asia, has assets worth an estimated CN¥634bn (US$97bn, €86.5bn, £66.5bn) with revenues of CN¥290bn (US$44bn, €40bn, £30.5bn) in 2015. By contrast, Disney revenues for 2015 grew to CN¥344bn (US$52.5bn, €47bn, £36bn).

The US$5.5bn (€5bn, £3.8bn) Disneyland Shanghai theme park and resort – the largest foreign investment ever made by Disney – will feature its highest castle, two hotels and six themed lands: Adventure Isle, Gardens of Imagination, Mickey Avenue, Tomorrowland, Treasure Cove and Fantasyland.

Disney CEO Bob Iger recently said that the company was confident ahead of the launch of the park, praising growth in the Chinese theme park market, but Wang disagreed with his assessment.

“Over the next 10 to 20 years, Wanda must make Disney unprofitable,” said Wang. “Every park of ours has its own business model, with constant innovation while combining indoor and outdoor activities. I think that Disney’s prospects in China, at least financially, don’t look good to me.”

Wang had previously made his intentions towards Disney known, promising to surpass it as the world’s largest tourism enterprise by 2020, aiming to welcome more than 200 million people and earn annual tourism income in excess of CN¥100bn (US$16.1bn, €14.6bn, £10.3bn) with its ‘Wanda City’ plan.

Each city is being built on a grand scale, with the entire endeavour being an indoor project, designed to operate all-year-round. Future plans include opening in excess of 15 Wanda cities in China alone, each with projected visitor numbers of more than 10 million, while larger branches within certain cities will be able to accommodate 30 million annually.

Among examples of Wanda cities are the US$1bn (€839m, £659m) movie park in the Chinese city of Wuhan, which opened in January 2015, the multi-billion dollar Wanda Hefei, set to open in July 2016, and the US$8.2bn (£5.1bn, €6bn) mega-complex in the eastern port city of Qingdao.

In addition to the ambitious domestic plans, Wanda has also begun acquisitions of travel enterprises and tourism spots in an effort to build up major tourism hubs abroad, most notably in Australia, where Wang is planning a multi-billion dollar Gold Coast theme park based on the Jurassic World franchise.
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  Disneyland Shanghai sets June opening date


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  Wanda’s acquisition of Legendary Entertainment paves way for Jurassic World theme park


Chinese property and entertainment giant Wanda has announced the US$3.5bn (€3.2bn, £2.4bn) acquisition of Legendary Entertainment, opening the door for a Jurassic World theme park in Australia among a host of other future projects.
  Iger 'bullish' over Shanghai Disneyland prospect


Disney CEO Bob Iger has said the company is confident ahead of the launch of Shanghai Disneyland next year, praising growth in the Chinese market.
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Jobs    News   Products   Magazine
NEWS
‘One tiger no match for a pack of wolves’ says Wanda chair warning Disney off China
POSTED 24 May 2016 . BY Tom Anstey
Wang had previously made his intentions towards Disney known, promising Wanda would surpass it as the world’s largest tourism enterprise by 2020
Wanda chair Wang Jianlin has taken aim at Disney, telling the company that “one tiger is no match for a pack of wolves” as Disney prepares to launch its first resort in China next month.

Making the comments during an appearance on China Central Television, multi-billionaire Wang escalated the rivalry between Wanda and Disney, as he aims to make his company the most powerful tourism entity in the world.

Wanda, which mainly operates in China and parts of Asia, has assets worth an estimated CN¥634bn (US$97bn, €86.5bn, £66.5bn) with revenues of CN¥290bn (US$44bn, €40bn, £30.5bn) in 2015. By contrast, Disney revenues for 2015 grew to CN¥344bn (US$52.5bn, €47bn, £36bn).

The US$5.5bn (€5bn, £3.8bn) Disneyland Shanghai theme park and resort – the largest foreign investment ever made by Disney – will feature its highest castle, two hotels and six themed lands: Adventure Isle, Gardens of Imagination, Mickey Avenue, Tomorrowland, Treasure Cove and Fantasyland.

Disney CEO Bob Iger recently said that the company was confident ahead of the launch of the park, praising growth in the Chinese theme park market, but Wang disagreed with his assessment.

“Over the next 10 to 20 years, Wanda must make Disney unprofitable,” said Wang. “Every park of ours has its own business model, with constant innovation while combining indoor and outdoor activities. I think that Disney’s prospects in China, at least financially, don’t look good to me.”

Wang had previously made his intentions towards Disney known, promising to surpass it as the world’s largest tourism enterprise by 2020, aiming to welcome more than 200 million people and earn annual tourism income in excess of CN¥100bn (US$16.1bn, €14.6bn, £10.3bn) with its ‘Wanda City’ plan.

Each city is being built on a grand scale, with the entire endeavour being an indoor project, designed to operate all-year-round. Future plans include opening in excess of 15 Wanda cities in China alone, each with projected visitor numbers of more than 10 million, while larger branches within certain cities will be able to accommodate 30 million annually.

Among examples of Wanda cities are the US$1bn (€839m, £659m) movie park in the Chinese city of Wuhan, which opened in January 2015, the multi-billion dollar Wanda Hefei, set to open in July 2016, and the US$8.2bn (£5.1bn, €6bn) mega-complex in the eastern port city of Qingdao.

In addition to the ambitious domestic plans, Wanda has also begun acquisitions of travel enterprises and tourism spots in an effort to build up major tourism hubs abroad, most notably in Australia, where Wang is planning a multi-billion dollar Gold Coast theme park based on the Jurassic World franchise.
RELATED STORIES
Wanda Group to make multi-billion investment in Europa City


The Wanda Group is to announce a multi-billion dollar investment into the currently under-development Europa City on the outskirts of Paris.
Disneyland Shanghai sets June opening date


Disney has set a new opening date for its first theme park in China, which will open on 16 June later this year.
Wanda’s acquisition of Legendary Entertainment paves way for Jurassic World theme park


Chinese property and entertainment giant Wanda has announced the US$3.5bn (€3.2bn, £2.4bn) acquisition of Legendary Entertainment, opening the door for a Jurassic World theme park in Australia among a host of other future projects.
Iger 'bullish' over Shanghai Disneyland prospect


Disney CEO Bob Iger has said the company is confident ahead of the launch of Shanghai Disneyland next year, praising growth in the Chinese market.
MORE NEWS
Alton Towers' iconic Nemesis coaster closes for major revamp
The famous Nemesis ride at UK theme park, Alton Towers, has closed for a major revamp.
Bob Iger's return to Disney sparks major restructuring focused on creativity and storytelling
Disney is set to undergo a "major restructuring" following the shock return of CEO Bob Iger.
Battersea Power Station's chimney experience whisks guests up 109m in a glass elevator
The highly anticipated chimney lift experience at the Battersea Power Station has opened to the public.
Eureka! tackles STEM with new Science + Discovery Centre
Eureka! Science + Discovery Centre in Seacombe, UK, has opened its doors to the public.
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COMPANY PROFILES
Simworx Ltd

The company was initially established in 1997. Terry Monkton and Andrew Roberts are the key stakeh [more...]
Antonio Zamperla Spa

Founded in 1966, the Antonio Zamperla SPA is privately owned by Mr Alberto Zamperla. Located in Vi [more...]
Painting With Light

By combining lighting, video, scenic and architectural elements, sound and special effects we tell s [more...]
Holovis

Holovis is a privately owned company established in 2004 by CEO Stuart Hetherington. [more...]
+ More profiles  
FEATURED SUPPLIER

Attractions industry to reunite this September at IAAPA Expo Europe in London
For the first time in more than a decade, industry leaders from across the global attractions industry will once again gather in London as part of the annual IAAPA Expo Europe, the sector’s premier international event. [more...]
VIDEO GALLERY

Red Raion - Keynote | Moby Dick - Friends to the rescue!
It’s extremely important for us to show you the process behind every content we produce. Each of our titles stems from deep research, focused on giving you the kinds of content that best fit your venues and target audience. Find out more...
More videos:
Red Raion Showreel 2021 – Red Raion
ProSlide's all-in-one waterplay entertainment center – Proslide Tech Inc
Red Raion TV - Testimonial: Leolandia – Red Raion
+ More videos  

CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

01-07 Dec 2022

World Leisure Congress 2022

tbc, Dunedin, New Zealand
05-07 Dec 2022

East Cape Futures

Hotel Palmas de Cortez, Los Barriles, Mexico
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2022

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