Топик: Disneyland Resort Paris
In response to the financial situation, Fitzpatrick ordered that the Disney-MGM Studios project would be put on hiatus until a further decision could be made. Prices at the hotels were reduced.
Despite these efforts, in May 1992 daily park attendance was around 25,000 (some reports give a figure of 30,000) instead of the predicted 60,000. The Euro Disney Company stock price spiraled downwards and on July 23, 1992, Euro Disney announced an expected net loss in its first year of operation of approximately 300 million French francs. During Euro Disney's first winter, hotel occupancy was such that it was decided to close the Newport Bay Club hotel during the season. Initial hopes were that each visitor would spend around USD $33 per day, but near the end of 1992, analysts reckoned spending to be around 12% lower.[12]
Efforts to improve attendance included serving alcoholic beverages with meals inside the Euro Disneyland park, in response to a presumed European demand, which began June 12, 1993.[13]
In January 1994, Sanford Litvack, an attorney from New York City and former Assistant Attorney General during the Jimmy Carter presidency, was assigned to be Disney's lead negotiator regarding Euro Disney's future. On 28 February, Litvack made an offer (without the consent of Eisner or Frank Wells) to split the debts between Euro Disney's creditors and Disney. After the banks showed interest, Litvack informed Eisner and Wells. On March 14, the day before the annual shareholders meeting, the banks capitulated to Disney's demands. The creditor banks bought USD $500 million worth of Euro Disney shares, forgave 18 months of interest and deferred interest payments for three years. Disney invested USD $750 million into Euro Disney and granted a five-year suspension of royalty payments. In June that same year, Saudi Arabian Prince Al-Waleed Bin Talal Bin Abdulaziz Al Saud cut a deal whereby the Walt Disney Company bought 51% of a new USD $1.1 billion share issue, the rest being offered to existing shareholders at below-market rates, with the Prince buying any that were not taken up by existing shareholders (up to a 24.5% holding).
In 2002, Euro Disney S.C.A. and the Walt Disney Company announced another annual profit for Disneyland Resort Paris. However, it has incurred a net loss in the three years following, and the park is approximately US$2 billion in debt as of 2007. In 2005, the Walt Disney Company agreed to write-off all debt to the Walt Disney Company made by Euro Disney S.C.A.
1995 turnaround
On May 31, 1995, a new attraction opened at the theme park. Space Mountain - De la Terre а la Lune had been planned since the inception of Euro Disneyland, but was reserved for a revival of public interest. With a redesign of the attraction (which had premiered at Walt Disney World's Magic Kingdom in 1975) including a 'cannon' launch system and an on-ride soundtrack, the USD $100 million attraction was dedicated in a ceremony attended by celebrities such as Elton John, Claudia Schiffer and Buzz Aldrin.
On July 25, 1995, Euro Disney S.C.A. reported its first ever quarterly profit of USD $35.3 million. On November 15, the results for the fiscal year ending September 30 were released; in one year the theme park's attendance had climbed from 8.8 million to 10.7 million — an increase of 21%. Hotel occupancy had also climbed from 60 to 68.5%. After debt payments, Disneyland Resort Paris ended the year with a net profit of USD $22.8 million.
The complex
Disneyland Resort Paris encompasses 4,800 acres [15] (19 km), including theme parks, resort hotels, nightclubs, a golf course, a railway station and more.
Theme parks
Main articles: Disneyland Park (Paris) and Walt Disney Studios Park
The Disneyland Park is based on a formula pioneered by Disneyland in California and further employed at the Magic Kingdom in Florida and Tokyo Disneyland in Japan. Occupying 566,560 m (140 acres), it is the largest Disney park based on the original in California.
On March 16, 2002, the Walt Disney Studios Park opened its doors to the public. At 27 hectares, it is a continuation on an earlier, never realized concept; the Disney-MGM Studios Europe.
The April 2007 issue of trade magazine Park World reported the following attendance estimates for 2006 compiled by Economic Research Associates in partnership with TEA (formerly the Themed Entertainment Association):
· Disneyland Park, 10.6 million visits (No. 5 worldwide);
· Walt Disney Studios, 2.2 million visits.
Other recreation
Main articles: Disney Village and Golf Disneyland
The Disney Village entertainment district contains a variety of restaurants, bars, shops and other venues and stays open after the parks close.
Golf Disneyland features 9-hole and 18-hole courses.
Hotels
The complex features seven Disneyland Resort Paris hotels. The Disneyland Hotel is located over the entrance of the Disneyland Park and is marketed as the most prestigious hotel on property. A body of water known as Lake Disney is surrounded by Disney's Hotel New York, Disney's Newport Bay Club and Disney's Sequoia Lodge. Disney's Hotel Cheyenne and Disney's Hotel Santa Fe are located near Lake Disney, Disney's Davy Crockett Ranch is located in a woodland area outside the resort perimeter.
Disneyland Resort Paris includes six Associated Hotels which are not managed by Euro Disney S.C.A. but provide free shuttle buses to the parks: Marriott's Village d'lle-de-France, Radisson SAS Hotel, a Holiday Inn Hotel, Vienna International Dream Castle Hotel, MyTravel's Explorers Hotel and a Kyriad Hotel.
Transport
A railway station, Marne-la-Vallйe - Chessy, with connection to the suburban RER network and the TGV high-speed rail network is located between the theme parks and Disney Village. Thalys no longer operates from Marne-la-Valle train station, but there are daily services from London on the Eurostar. On June 10, 2007, a new TGV line, LGV Est, began service between Paris and Strasbourg.
Free shuttle buses provide transport to all Disney hotels (except Disney's Davy Crockett Ranch) and Associated Hotels.
The background...
When, under Michael Eisner, the Disney CEO and miracle worker who is generally credited with having turned Disney around in the early 80s, Disney was looking for a European site the choice was between Spain and France. Spain had everything going for it - established tourist industry, the weather, sympathetic government, the weather, good air links, the weather...
Paris, however, had two major points in its favour; an extremely good position- almost in the centre of Europe and a large expanse of flat, featureless land. Disney has never wanted people to be drawn away from its parks by beautiful countryside neither has it wanted anything to interfere with the theme park experience. Also, the French government was willing to 'make it worthwhile' for Disney to build in Marne la Valee. For a more detailed account of the first ten years of the resort's fortunes,
But why should you choose Paris Disney?
Basically, it's a better theme park than the Magic Kingdom in Florida. Disney has learnt from Disneyland, WDW's Magic Kingdom and Tokyo Disneyland and have created something rather special in Disneyland Paris. Besides being physically the largest Park of the four, it has a number of intimate little paths and hidden corners on much the same lines as those which imbue the Californian park with such charm. The rides are, of course, technologically more recent (Pirates of the Caribbean is much superior to its WDW cousin) and, owing to the different safety legislation in France, you don't have the illusion in the 'darker' rides spoilt by seeing little red 'Exit' signs! It's also achieved a European flavor, has fewer controls than the States (probably because the Paris natives don't listen to anyone!) and is a more up to date, intimate park than Florida overall. Besides which, if you hate long flights in economy class, then it's only an hour away!
The most compelling reason, however, has to be the addition of the Walt Disney Studios, making Disneyland Paris the first Disney theme park in the World (outside of the States) to have a second theme Park (unfortunately, Disneyland in Anaheim beat Paris by seven months, but their second park isn't in the same league as the new Studios). The WD Studios is fairly small at the moment, but plans are afoot to bring some of the world's greatest attractions to the Studios in the near future. One ride many have wanted to see there is the Tower of Terror, the astonishingly designed freefall lift (or elevator for the Americans) ride which currently features as the biggest draw in Florida's theme parks, The other excellent reason has to be the Val d'Europe shopping complex.
From the outset, you need to be aware that Disney is very much about control. From the moment you get up in your hotel to the moment you turn out the lights at the end of the day, Disney will attempt to control your every experience. Sounds sinister? Well, not really. What they offer is a total experience and they believe they can't achieve the level of experience they want without the degree of control they exert.