Disney CEO: Shanghai park close to break even
As its celebrates its first year of operation, Walt Disney Co CEO Bob Iger says the $5.5 billion Shanghai Disneyland theme park is close to breaking even.
"That’s an extraordinary achievement, I’m not sure we’ve ever done that," Iger said in an interview with Bloomberg TV.
"After the first year, I’m pleased to say that prospects are really strong for continued success and continued growth."
The park has surpassed 11 million visitors for the year.
In fact it is the one bright spot in its parks division.
Attendances fell at many other parks in the US, Europe and Asia, although that was offset by a larger increase in spending, due to ticket price hikes.
Shanghai is already ahead of Disney’s Hong Kong and Paris parks in terms of attendance.
Unsurprisingly it is China’s most visited theme park.
Iger also said a second China Disney park is a real possibility in the future, but first up would be an expansion of Shanghai Disneyland.
"Before we really look to the horizon geographically, we will focus on expanding this park," Iger said.
"Might we build in another city over time? Yes. There’s a great likelihood that we will."
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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