€2bn boost for Disneyland Paris
Disney shows its commitment to French park
Walt Disney has announced a €2 billion ($2.47 billion) investment drive to expand Disneyland Paris, which it took control of last year.
Chief executive Robert Iger announced the spending plan after meeting French president, Emmanuel Macron, in Paris.
The development will include three new areas based on Marvel superheroes such as Spider-Man and the Hulk, Disney’s animated film Frozen and Star Wars, and will be rolled out in phases, starting in 2021. There will also be new attractions and live entertainment experiences.
“The expansion plan is one of the most ambitious development projects at Disneyland Paris since its opening in 1992 and underscores the company’s commitment to the long-term success of the resort as Disney’s brand beacon in Europe,” the entertainment giant said in a statement.
Walt Disney took control of the ailing company in June 2017 and de-listed its shares.
The new investment drive comes amid a rebound in French tourism after the industry was hit by a series of terrorist attacks in Paris, Nice and other cities.
Euro Disney racked up a net loss of €858m in 2016 as visitor numbers fell 10 per cent to 13.4 million. However, 2017 marked the French capital’s best year for tourism in at least a decade.
Disneyland Paris comprises two theme parks – the fairytale-themed Disneyland Park and the Walt Disney Studios Park.