16 Jun 2017
Disney's Iger reveals Shanghai about to break even, hints potential for second China park
BY Tom Anstey
Disney's Shanghai park is about to achieve something none of its resorts have managed in the last three decades – breaking even in its first full year of operation.
The US$5.5bn (€4.9bn £4.3bn) attraction, which opened in June last year has now welcomed more than 11 million visitors since its launch.
Speaking to Bloomberg, CEO Bob Iger praised the “extraordinary achievement”, adding that after the first full year of operation that prospects were “really strong for continued success and continued growth.”
The attraction is a joint venture between Disney and the state-owned Shendi Group and represents Disney’s first venture into mainland China and its largest foreign investment ever.
Following comments last year from the Chongqing city government, which said that it was bidding to host a future Disney park, Iger fuelled rumours of a second development in mainland China, saying there was “potential” for a second park. Iger added however that Disney would expand its Shanghai resort first.
“Before we really look to the horizon geographically, we will focus on expanding this park,” he said. “Might we build in another city over time? Yes. There’s a great likelihood that we will.”
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