Disney has made an offer to the Hong Kong Government, their partners in Hong Kong Disneyland, to refinance the debt that was created to build the park. This would allow the park to expand more quickly and increase attendance. This same sort of deal was worked up for Disneyland Paris and it’s finally turning that park around.
One small problem, the Hong Kong government doesn’t appear all that eager to get back into bed with the Walt Disney Company.
Disney has not reached an agreement with the joint venture to resolve the loan, raising the possibility that the joint venture would turn instead to a tight commercial credit market for potentially onerous terms and saddling the company with potentially unfavorable financial disclosures.
The company was “disappointed that both shareholders in the joint venture hadn’t yet been able to reach an agreement,” Disney spokesman Jonathan Friedland said.
Earth to China. Don’t look a gift horse in the mouth. The last company to not follow Disney’s dictums was The Children’s Place and they ended up giving Disney back The Disney Stores for free.
Hope they work out a deal somehow. I just visited HK Disneyland and find that there’s a significant improvement over the year in terms of service, merchandise and of course the addition of the Small Small World attraction, the land is slowly making it’s mark.
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