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Hong Kong Disneylands Expansion Plans Approved

Travel News Asia Latest Travel News Podcasts Thursday, 16 July 2009

Hong Kong Disneyland has warmly welcomed the Legislative Councils approval of the financial arrangement relating to its expansion plans.

Three new themed areas will be added to Hong Kong Disneyland bringing the total number of attractions, entertainment, and interactive experiences at the resort to over 100 by 2014. These areas are Grizzly Trail, Mystic Point and Toy Story Land.

Aliana Ho, Vice President, Sales and Travel Trade Marketing said, I believe the additional number and variety of attractions will broaden the parks appeal to different market segments, especially young adults, and lengthen their stay in Hong Kong. The three new themed areas will also provide some unique venues for corporate events there will be nothing like it in Hong Kong.

The new offerings are expected to open in phases over a five year period. Work is expected to commence later this year, spurring the local Hong Kong economy by creating more than 3,700 jobs in Hong Kong from 2009 to 2014, including 850 expected within the first year of construction.

After the completion of the expansion, the project will continue to serve as a major economic driver with Hong Kong Disneyland adding approximately 600 new positions, and bringing the total number of Cast Members to more than 5,500.

Two of the three new themed areas, Grizzly Trail and Mystic Point, will be exclusive to Hong Kong Disneyland for the first five years after their respective openings.

The third, Toy Story Land, will be exclusive within Asia for the first five years after opening.

 Ms Ho was quick to stress that the park would not need to close, nor would there be any disruption for visitors. The construction of the new expansion areas will have no negative impact upon our regular theme park operations. These new areas will be created in largely unused sections of the park, so we expect no disruptions during our build-out, Ms Ho said.

Under the approved plan and current business projections, The Walt Disney Company will contribute approximately HK$6.25 billion in new capital and debt conversion and the Hong Kong Government will convert a like amount in debt principal and interest. The Hong Kong Government will retain the majority ownership of 52% in the joint venture and The Walt Disney Company will own the other 48%.

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