peaches magee
06-30-2009, 11:12 AM
Walt Disney Co. to boost its Hong Kong park with $465 million expansion plan
HONG KONG (AP) — The Walt Disney Co. and Hong Kong have reached a deal to expand the territory's Disneyland at a cost of about $465 million in hopes of boosting the theme park's fortunes, officials announced Tuesday.
The deal will see the American entertainment giant invest new capital — some 3.5 billion Hong Kong dollars ($450 million) — to pay construction and operation costs during the building phases.
In the works for two years, the expansion plan is part of an effort to turn around a park criticized for failing to meet attendance targets, being too small and lacking high-profile rides. Hong Kong is also under pressure to increase the theme park's appeal to compete with a proposed Disneyland in Shanghai, which could open in the coming years, and would siphon off Chinese tourists.
"The expansion will be a catalyst to the park's long-term development and bring benefits to not just the local tourism industry but also the entire economy," Rita Lau, Hong Kong's commerce and economic development secretary, told reporters.
The park is a joint venture between Walt Disney and the Hong Kong government. The expansion will add three new theme areas as well a 30 new attractions, enlarging the park's size by nearly a quarter over the next five years.
Beyond the new investment, Burbank, California-based media Disney will convert into equity about $350 million in loans to the venture and maintain a credit facility of about $40 million.
"Disney is making a substantial investment in this important project," Leslie Goodman, a Disney vice president, said in a statement.
Hong Kong, which shouldered much of the $3.5 billion original construction cost, will not add any new capital. But the territory will convert a large portion of its loan to the park into equity. In all, Hong Kong's total stake is expected to decline from about 57 percent to 52 percent.
The park opened in 2005 to great fanfare, only to miss its targets for attendance in the first two years. However, traffic in its third year grew by 8 percent, according to figures provided by the Hong Kong government.
Sustaining that growth could prove all the more difficult with the allure of a Shanghai Disneyland. Disney Chief Executive Bob Iger said last month the company is awaiting word from China's central government about the proposal.
Likely anticipating a Shanghai park, Hong Kong secured as part of the expansion proposal two new areas, called "Grizzly Trail" and "Mystic Point," that will be unique among Disneylands worldwide when they open. The third area, "Toy Story Land," will be exclusive in Asia.
LATimes.com
Also found this at blueskydisney.blogspot.com, it is a blog so not sure how credible it is.
More details about the new lands in the expansion and pics. Sorry they are so small, they didn't enlarge anymore than that on the site.
http://i44.tinypic.com/2dj2n0k.jpg
http://i44.tinypic.com/2lbnwg6.jpg
Grizzly Trail
Grizzly Gulch, Frontier Gold-Mining Town
The path along Grizzly Trail offers high-spirited frontier fun in an abandoned mining town called Grizzly Gulch, set amidst mountains and woods. The town was founded August 8, 1888 – the luckiest day of the luckiest month of the luckiest year – by prospectors looking to discover gold. Bears have now started causing havoc at the Big Grizzly Mountain Mining Company.
Key Technology and Creative Elements
• Guests visiting Grizzly Gulch are part of the action, experiencing hands-on water features, massive geysers and various leaking structures in the abandoned town.
• Life-size Audio-Animatronic® bears set the story in motion on Big Grizzly Mountain Coaster, an adventure aboard a runaway mine train through town. Guests careen backward down an incline that propels them through twists and turns, before a launch sequence “blasts” the mine train out of the mountain.
• A Wild West stagecoach, an old time Jail House, and the world’s largest nugget of gold provide fun photo opportunities.
• Guests can relax with a Wild West refreshment at the old Saloon or shop for mining supplies and souvenirs at the Bear Necessities merchandise stand.
Mystic Point
Mystic Point is the site of mysterious forces and supernatural events in the heart of a dense, uncharted rain forest.
In Mystic Manor, home to an eccentric world traveler and adventurer and his collection of exotic international artifacts, strange things are afoot as an enchanted music box releases its magical powers, thanks to a mischievous monkey.
Key Technology and Creative Elements
• Inside Mystic Manor, a trackless ride system enables vehicles to move “freely” about the attraction as the story unfolds. Audio-Animatronic® figures and special visual and audio effects help tell the story of mystical phenomena.
• Within Mystic Point lies a beautiful garden full of relics and mythological figures, where guests discover a hidden world of illusions and mysteries that trick the eye.
• Guests can dine at the Adventurer’s Club amid a vast collection of unusual artifacts from around the world or purchase exclusive curiosities and collectibles at the Archive Shop.
http://i40.tinypic.com/24myl2x.jpg
Toy Story© Land
Disney·Pixar-themed Play Area for Kids of All Ages
Andy, the young boy from the Disney·Pixar Toy Story films, has left his toys unattended in this immersive and highly themed environment, based on one of Disney·Pixar’s most popular film series. While Andy is away, the toys come to life and play...and Guests are invited to join!
Key Technology and Creative Elements
• Oversized outdoor rides and photo opportunities allow Guests to experience the different perceptions of scale, and shrink to the size of a toy.
• One attraction includes a shuttle coaster which propels Guests along a U-shaped style track.
• A drop-style parachute attraction lets Guests join a “training mission,” plunging from a 25m tall tower.
• Guests will enjoy fun, immersive and interactive environments with life-size toys.
• A themed food kiosk provides a barrel of fun snacks and refreshments and Guests can shop for Toy Story inspired collectibles at the merchandise location.
Commentary to follow a little later...
HONG KONG (AP) — The Walt Disney Co. and Hong Kong have reached a deal to expand the territory's Disneyland at a cost of about $465 million in hopes of boosting the theme park's fortunes, officials announced Tuesday.
The deal will see the American entertainment giant invest new capital — some 3.5 billion Hong Kong dollars ($450 million) — to pay construction and operation costs during the building phases.
In the works for two years, the expansion plan is part of an effort to turn around a park criticized for failing to meet attendance targets, being too small and lacking high-profile rides. Hong Kong is also under pressure to increase the theme park's appeal to compete with a proposed Disneyland in Shanghai, which could open in the coming years, and would siphon off Chinese tourists.
"The expansion will be a catalyst to the park's long-term development and bring benefits to not just the local tourism industry but also the entire economy," Rita Lau, Hong Kong's commerce and economic development secretary, told reporters.
The park is a joint venture between Walt Disney and the Hong Kong government. The expansion will add three new theme areas as well a 30 new attractions, enlarging the park's size by nearly a quarter over the next five years.
Beyond the new investment, Burbank, California-based media Disney will convert into equity about $350 million in loans to the venture and maintain a credit facility of about $40 million.
"Disney is making a substantial investment in this important project," Leslie Goodman, a Disney vice president, said in a statement.
Hong Kong, which shouldered much of the $3.5 billion original construction cost, will not add any new capital. But the territory will convert a large portion of its loan to the park into equity. In all, Hong Kong's total stake is expected to decline from about 57 percent to 52 percent.
The park opened in 2005 to great fanfare, only to miss its targets for attendance in the first two years. However, traffic in its third year grew by 8 percent, according to figures provided by the Hong Kong government.
Sustaining that growth could prove all the more difficult with the allure of a Shanghai Disneyland. Disney Chief Executive Bob Iger said last month the company is awaiting word from China's central government about the proposal.
Likely anticipating a Shanghai park, Hong Kong secured as part of the expansion proposal two new areas, called "Grizzly Trail" and "Mystic Point," that will be unique among Disneylands worldwide when they open. The third area, "Toy Story Land," will be exclusive in Asia.
LATimes.com
Also found this at blueskydisney.blogspot.com, it is a blog so not sure how credible it is.
More details about the new lands in the expansion and pics. Sorry they are so small, they didn't enlarge anymore than that on the site.
http://i44.tinypic.com/2dj2n0k.jpg
http://i44.tinypic.com/2lbnwg6.jpg
Grizzly Trail
Grizzly Gulch, Frontier Gold-Mining Town
The path along Grizzly Trail offers high-spirited frontier fun in an abandoned mining town called Grizzly Gulch, set amidst mountains and woods. The town was founded August 8, 1888 – the luckiest day of the luckiest month of the luckiest year – by prospectors looking to discover gold. Bears have now started causing havoc at the Big Grizzly Mountain Mining Company.
Key Technology and Creative Elements
• Guests visiting Grizzly Gulch are part of the action, experiencing hands-on water features, massive geysers and various leaking structures in the abandoned town.
• Life-size Audio-Animatronic® bears set the story in motion on Big Grizzly Mountain Coaster, an adventure aboard a runaway mine train through town. Guests careen backward down an incline that propels them through twists and turns, before a launch sequence “blasts” the mine train out of the mountain.
• A Wild West stagecoach, an old time Jail House, and the world’s largest nugget of gold provide fun photo opportunities.
• Guests can relax with a Wild West refreshment at the old Saloon or shop for mining supplies and souvenirs at the Bear Necessities merchandise stand.
Mystic Point
Mystic Point is the site of mysterious forces and supernatural events in the heart of a dense, uncharted rain forest.
In Mystic Manor, home to an eccentric world traveler and adventurer and his collection of exotic international artifacts, strange things are afoot as an enchanted music box releases its magical powers, thanks to a mischievous monkey.
Key Technology and Creative Elements
• Inside Mystic Manor, a trackless ride system enables vehicles to move “freely” about the attraction as the story unfolds. Audio-Animatronic® figures and special visual and audio effects help tell the story of mystical phenomena.
• Within Mystic Point lies a beautiful garden full of relics and mythological figures, where guests discover a hidden world of illusions and mysteries that trick the eye.
• Guests can dine at the Adventurer’s Club amid a vast collection of unusual artifacts from around the world or purchase exclusive curiosities and collectibles at the Archive Shop.
http://i40.tinypic.com/24myl2x.jpg
Toy Story© Land
Disney·Pixar-themed Play Area for Kids of All Ages
Andy, the young boy from the Disney·Pixar Toy Story films, has left his toys unattended in this immersive and highly themed environment, based on one of Disney·Pixar’s most popular film series. While Andy is away, the toys come to life and play...and Guests are invited to join!
Key Technology and Creative Elements
• Oversized outdoor rides and photo opportunities allow Guests to experience the different perceptions of scale, and shrink to the size of a toy.
• One attraction includes a shuttle coaster which propels Guests along a U-shaped style track.
• A drop-style parachute attraction lets Guests join a “training mission,” plunging from a 25m tall tower.
• Guests will enjoy fun, immersive and interactive environments with life-size toys.
• A themed food kiosk provides a barrel of fun snacks and refreshments and Guests can shop for Toy Story inspired collectibles at the merchandise location.
Commentary to follow a little later...