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NEWS
'Plenty of opportunity for expansion in China' says Iger as Shanghai booms
POSTED 10 Aug 2017 . BY Tom Anstey
Disney chair Bob Iger has said that there is “plenty of opportunity for expansion” in China, as its parks division, buoyed by the operator’s overseas ventures, enjoyed a strong third quarter of the fiscal year.

In its latest earnings report, an increase in visitor spending at Disney's Shanghai and Paris resorts contributed to strong growth for the company's parks and resorts division, with revenues growing 12 per cent to nearly US$5bn (€4.17bn, £3.76bn) and operating income increasing 18 per cent to US$1.17bn (€996m, £899m).

Specifically in Shanghai, the earnings results reflected the company’s first full quarter of operations, compared to the previous year, which included opening costs.

“This is basically a national tourist destination,” said Bob Iger, speaking on the success of the Shanghai park in its first year. “It is a very, very well-received product in China, and we have plenty of opportunity for expansion.”

Disney has already started work on expanding its Shanghai park, with construction already underway on the new Toy Story Land, which is scheduled to open in 2018. Speaking during the earnings call, Iger alluded to further expansion beyond Toy Story, though what that could be is still under wraps.

Shanghai Disneyland has had greater initial success than any other Disney park, with the attraction on course to break even in its first full year of operation – something no Disney park has managed to achieve in the last three decades.

In terms of major expansion, in a previous interview Iger hinted at the possibility of a second Disney development in mainland China, saying there was “potential” for a second park. He added however that Disney would expand the Shanghai resort first.
RELATED STORIES
Disney's Parks and Resorts division performs well with strong overseas growth


An increase in visitor spending at Disney's Shanghai and Paris resorts has contributed to strong growth for the company's parks and resorts division, according to its latest earnings report.
Disney's Iger reveals Shanghai about to break even, hints potential for second China park


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.
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Coventry named UK City of Culture 2021
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Public art crucial for cities, argues designer who delivered Ai Weiwei's New York installations
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AM2.jobs - Attractions Jobs & News
Attractions Management Magazine


CLICK HERE TO READ THE LATEST ISSUE ONLINE
 

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NEWS
'Plenty of opportunity for expansion in China' says Iger as Shanghai booms
POSTED 10 Aug 2017 . BY Tom Anstey
Disney chair Bob Iger has said that there is “plenty of opportunity for expansion” in China, as its parks division, buoyed by the operator’s overseas ventures, enjoyed a strong third quarter of the fiscal year.

In its latest earnings report, an increase in visitor spending at Disney's Shanghai and Paris resorts contributed to strong growth for the company's parks and resorts division, with revenues growing 12 per cent to nearly US$5bn (€4.17bn, £3.76bn) and operating income increasing 18 per cent to US$1.17bn (€996m, £899m).

Specifically in Shanghai, the earnings results reflected the company’s first full quarter of operations, compared to the previous year, which included opening costs.

“This is basically a national tourist destination,” said Bob Iger, speaking on the success of the Shanghai park in its first year. “It is a very, very well-received product in China, and we have plenty of opportunity for expansion.”

Disney has already started work on expanding its Shanghai park, with construction already underway on the new Toy Story Land, which is scheduled to open in 2018. Speaking during the earnings call, Iger alluded to further expansion beyond Toy Story, though what that could be is still under wraps.

Shanghai Disneyland has had greater initial success than any other Disney park, with the attraction on course to break even in its first full year of operation – something no Disney park has managed to achieve in the last three decades.

In terms of major expansion, in a previous interview Iger hinted at the possibility of a second Disney development in mainland China, saying there was “potential” for a second park. He added however that Disney would expand the Shanghai resort first.
RELATED STORIES
Disney's Parks and Resorts division performs well with strong overseas growth


An increase in visitor spending at Disney's Shanghai and Paris resorts has contributed to strong growth for the company's parks and resorts division, according to its latest earnings report.
Disney's Iger reveals Shanghai about to break even, hints potential for second China park


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.
MORE NEWS
Exclusive: Australian market recovering, says Village Roadshow COO as operator addresses safety concerns
Following a year of turmoil for Australia’s theme park sector, the Gold Coast market is finally starting to show signs of recovery, according to Village Roadshow Theme Parks COO Bob White.
Renovation work starts on Manhattan Beach's pier aquarium
A historic pier and aquarium on Manhattan Beach, California, is undergoing a major renovation after reaching its fundraising targets.
Coventry named UK City of Culture 2021
Coventry will be the third UK City of Culture following an announcement by minister for Arts, Heritage and Tourism John Glen.
Public art crucial for cities, argues designer who delivered Ai Weiwei's New York installations
One of the design team responsible for realising Ai Weiwei’s huge ‘security fence’ installations across New York has told CLADglobal the popularity of the project demonstrates why cities and developers would be “mad” not to commission creativity.
More news>
LATEST JOBS
Head of Food and Beverage
Paultons Park
Salary: Competitive Salary & Benefits
Location: Paultons Park, United Kingdom
Visitor Operations Team Duty Manager
Chatham Historic Dockyard Trust
Salary: £22,000 pa
Location: Chatham, United Kingdom
General Manager
Sea Life
Salary: Competitive
Location: Concord, NC, United States
Front Office Manager
Legoland
Salary: Competitive
Location: Carlsbad, CA, United States
Duty Manager
Madame Tussauds
Salary: Competitive
Location: Hollywood, Los Angeles, CA, United States



 
 
ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2017

ABOUT LEISURE MEDIA
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NEWS
'Plenty of opportunity for expansion in China' says Iger as Shanghai booms
POSTED 10 Aug 2017 . BY Tom Anstey
Disney chair Bob Iger has said that there is “plenty of opportunity for expansion” in China, as its parks division, buoyed by the operator’s overseas ventures, enjoyed a strong third quarter of the fiscal year.

In its latest earnings report, an increase in visitor spending at Disney's Shanghai and Paris resorts contributed to strong growth for the company's parks and resorts division, with revenues growing 12 per cent to nearly US$5bn (€4.17bn, £3.76bn) and operating income increasing 18 per cent to US$1.17bn (€996m, £899m).

Specifically in Shanghai, the earnings results reflected the company’s first full quarter of operations, compared to the previous year, which included opening costs.

“This is basically a national tourist destination,” said Bob Iger, speaking on the success of the Shanghai park in its first year. “It is a very, very well-received product in China, and we have plenty of opportunity for expansion.”

Disney has already started work on expanding its Shanghai park, with construction already underway on the new Toy Story Land, which is scheduled to open in 2018. Speaking during the earnings call, Iger alluded to further expansion beyond Toy Story, though what that could be is still under wraps.

Shanghai Disneyland has had greater initial success than any other Disney park, with the attraction on course to break even in its first full year of operation – something no Disney park has managed to achieve in the last three decades.

In terms of major expansion, in a previous interview Iger hinted at the possibility of a second Disney development in mainland China, saying there was “potential” for a second park. He added however that Disney would expand the Shanghai resort first.
RELATED STORIES
Disney's Parks and Resorts division performs well with strong overseas growth


An increase in visitor spending at Disney's Shanghai and Paris resorts has contributed to strong growth for the company's parks and resorts division, according to its latest earnings report.
Disney's Iger reveals Shanghai about to break even, hints potential for second China park


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.
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2017

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
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