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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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  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


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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
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TechnoAlpin is the world leader for snowmaking systems. Our product portfolio includes all different [more...]
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We’re a Yorkshire-based online printer, founded in 2009 by Adam Carnell and James Kinsella. [more...]
IAAPA EMEA

IAAPA Expo Europe was established in 2006 and has grown to the largest international conference and [more...]
Simworx Ltd

The company was initially established in 1997. Terry Monkton and Andrew Roberts are the key stakeh [more...]
+ More profiles  
FEATURED SUPPLIER

Behind the Scenes of IAAPA Expo 2022 with Michael Shelton
There is no place like IAAPA Expo, it’s the place to take in the most exciting sights, smells, tastes, and sensations that will take your career and attraction to new heights! The excitement, energy and opportunity are palpable. [more...]
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Red Raion TV - Opening Event: FICO Eataly World
Last July 7th, Red Raion took part in the opening event of FICO Eataly World, the Italian theme park dedicated to food - the only one worldwide! Find out more...
More videos:
ProSlide's all-in-one waterplay entertainment center – Proslide Tech Inc
Red Raion TV - Testimonial: Leolandia – Red Raion
Keynote | Moby Dick - Friends to the rescue! – 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  
 


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Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2022

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