The Walt Disney Company today released its second Corporate Citizenship report detailing Disney’s progress on environmental and social impacts. The report also includes the Company’s first set of comprehensive citizenship commitments and goals, aligned around three core principles:
- Act and create in an ethical manner and consider the consequences of our decisions
- Champion the happiness and well-being of kids, parents and families in our endeavors
- Inspire kids, parents, employees, and communities to make a lasting, positive change in the world
Despite a weakened economy and virtually all other parks in North America seeing a decline in attendance in 2009, most of Disney’s 11 theme parks worldwide saw improvement in performance according to the 2009 annual TEA/AECOM theme park attendance report issued today. All totaled, approximately 119.1 million guests visited Disney Parks worldwide last year.
Ranking the top 25 parks worldwide, the top 8 spots went to Disney Parks, with number one being — with no surprise — the Magic Kingdom with an annual attendance of about 17.2 million, a relatively minor increase over 2008. Ten of Disney’s theme parks ranked in the top 25, the only absentee being the Walt Disney Studios at the Disneyland Paris Resort.
To celebrate a significant step in the expansion of Hong Kong Disneyland, a groundbreaking ceremony was held today at the Hong Kong Disneyland Resort. John Tsang, Financial Secretary of Hong Kong Special Administrative Region of the People’s Republic of China, and Jay Rasulo, Chairman of Walt Disney Parks and Resorts officiated the ceremony with representatives from the Government, The Walt Disney Company and the Hong Kong community in attendance.
The ceremony represents a major milestone in the Resort’s expansion plan. The expansion will bring the total number of attractions, entertainment and interactive experiences at the Park to more than 100, create 3,700 jobs during the construction phase and 600 new full-time jobs after expansion.
“Today marks the beginning of another exciting phase for Hong Kong Disneyland,” said Mr Rasulo. “The new themed areas will showcase the best in creativity, technology and story-telling. The planned attractions and rides will position our youngest Disney theme park for future growth and success.”
Mr. Tsang said that a larger park with more attractions will continue to draw the crowds and provide even more fun and excitement for visitors.
HONG KONG (July 10, 2009) – The Hong Kong SAR Government and The Walt Disney Company (TWDC) today applaud the Legislative Council’s approval of the financial arrangement relating to the Hong Kong Disneyland (HKDL) expansion plan. Three new themed areas will be added to HKDL, bringing the total number of attractions, entertainment, and interactive experiences at the resort to over 100 by 2014 and further establishing Hong Kong as one of the world’s premier international family tourist destinations.
Financial Secretary, Mr. John C. Tsang commented that, “HKDL, as an important tourism infrastructure, has brought substantial economic benefits to Hong Kong. With the proposed expansion and realignment of the financial arrangements, we believe that HKDL would rise up to the keen competition in the region on the tourism front, attracting more family visitors from round the world. This will generate streams of benefits to our tourism and related sectors, further reinforcing the tourism industry’s contribution as a major pillar of Hong Kong’s economy.”
“We are pleased that the financial agreement relating to the HKDL expansion has been approved and we are eager to begin work on this exciting new chapter for Hong Kong Disneyland,” said Jay Rasulo, Chairman of Walt Disney Parks & Resorts. “This substantial investment represents our continued commitment to and confidence in Hong Kong Disneyland and solidifies our partnership with the Hong Kong government helping assure the resort’s long-term success.”
Disney has just provided us with the following posters advertising the new Grizzly Trail, Mystic Point and Toy Story lands. Click on each thumbnail to view a larger version.
HONG KONG (Reuters) – Hong Kong lawmakers approved a government plan on Friday to spend HK$3.63 billion ($468 million) expanding the city’s Disneyland theme park with Walt Disney, boosting the smallest of Disney’s five resorts.
With attendance falling short of targets, the government has been seeking ways to boost the number of visitors in the long term, given the threat from a rival Disney theme park planned for Shanghai.
Hong Kong will convert a significant amount of its HK$6.89 billion outstanding loan to the park into equity, while Walt Disney will invest HK$3.5 billion to help finance the construction cost and also convert its outstanding HK$2.76 billion loan to the theme park into equity.
HONG KONG (Reuters) – Hong Kong on Tuesday said the Walt Disney Co will invest $452 million to expand its Hong Kong theme park, seen as necessary to bolster the park’s long-term prospects against a planned rival park in Shanghai.
Hong Kong Chief Executive Donald Tsang said Hong Kong would not invest more capital in the joint venture but would convert a substantial part of its loan to the project into equity.
After Disney’s new investment and the government’s debt to equity swap, Hong Kong will see its stake in the underperforming park fall to 52 percent from 57 percent.
HONG KONG/LOS ANGELES (Reuters) – The Walt Disney Co is close to agreeing to invest more capital in Hong Kong Disneyland and allow the island’s government to convert its loans to equity to maintain its majority share of the theme park, a source involved in the talks said.
If Disney and Hong Kong’s government, which now owns 57 percent of the underperforming and much-maligned resort, can close a deal, it could pave the way for an expansion that is estimated will cost HK$3 billion ($387 million) and boost flagging attendance.
(Reporting by James Pomfret and Gina Keating in Los Angeles; Editing by Nick Macfie)
HONG KONG (Reuters) – Hong Kong’s top financial official will meet Walt Disney Co. management in Los Angeles later this week to discuss the stalled expansion of the struggling Hong Kong theme park.
Disney and the Hong Kong government have been embroiled in protracted discussions over financing for a second phase of the world’s smallest Disneyland which could cost a reported HK$3 billion ($387 million).