Disney Announces $449 Million Dollar Expansion Of Hong Kong

I do not believe that this has been posted yet, if it has, I apologize.
Anyways...

Walt Disney Co. (DIS) said Tuesday it will fund a HK$ 3.5 billion (US$449 million) expansion of Hong Kong Disneyland, in hopes of boosting attendance at the theme park that has been criticized for being too small and unappealing to mainland Chinese tourists.

The U.S. media and entertainment company struck a deal with the Hong Kong government Friday after more than two years of negotiations on how to finance an expansion of the park, which is 57% owned by the government and 43% owned by Disney.

Disney was willing to fully finance the expansion, but the talks were complicated by the government's desire to retain its controlling stake while being reluctant to invest new funds in the park, which opened in 2005.

As part of the deal announced Tuesday, the government plans to convert a substantial amount of existing loans to the park into equity, but won't invest any new capital. Its stake in the park will fall to 52%.

As well as Disney's HK$3.5 billion investment to expand the theme park, it will convert HK$2.7 billion worth of existing loans to the park into equity. Its stake will rise to 48%.

Hong Kong Disneyland, the smallest of Disney's theme parks, will add three new themed lands to a total of seven by the end of the expansion project, which will be completed in phases over five years, Secretary for Commerce and Economic Development Rita Lau said Tuesday.

The physical size of the theme park, will increase by 23%, Lau said, with the new attractions aimed at broadening Disneyland's appeal to young adults.

Lau said she expects construction of the project to start this year, pending legislative approval of the government financing plans at a meeting scheduled for July 10.

Hong Kong Disneyland has been plagued by subpar attendance and disappointing financial returns since its 2005 opening, with critics saying it lacks an adequate number of attractions to draw visitors.

In its first year of operations, visitors to Hong Kong Disneyland fell 400,000 short of the park's 5.6 million target. In its second year, attendance fell to just over 4 million visitors.

The park has also drawn criticism for lack of appeal to mainland Chinese tourists, who account for the bulk of its visitors, given their unfamiliarity with Disney stories and characters.

Disney said Tuesday the expansion will focus on "universally understood" stories, adding that many of the new attractions will be unique to the Hong Kong park.

Disney's other theme parks are in the U.S., Japan and France.

Original Article: UPDATE: Disney, Hong Kong Government Reach Deal To Expand Hong Kong Theme Park

More about the expansion:

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.

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.

Concept Art:

__________________
-Dan

Thats cool concept art thanks for posting Dan

__________________
Paul



All our dreams can come true, if we have the courage to pursue them.

Art work looks great Dan & interesting ! Thanks !

__________________
"We must be free not because we claim freedom, but because we practice it. "
William Faulkner

" And that's the way it is" Walter Cronkite

Barb

My Disney Countdown

Counting down to: Sept 2010 BWI
184 days 4 hours 29 minutes

No problem... I think its interesting how all three of the new lands are going to be right next to each other. Very cool though nonetheless.

__________________
-Dan

I did notice that especially as Mystic Point will not be accessible other than through one of the other new lands new lands

__________________
Paul



All our dreams can come true, if we have the courage to pursue them.

These pictures make the expansion look great!

I thought I read something yesterday that the deal had hit a snag with the government though. Hope there won't be any issues.

__________________
.
Walt Disney Buddies: Where Disney Fans Become Disney Friends


.
WDB on MySpace Follow TheWDBoards on Twitter WDB on FaceBook
.
Support the WDB Family of Sites by Donating and Becoming a Sponsor! Become A WDB Supporter!
.