Big real estate news in the Anaheim Resort District today. Disneyland has made a strategic move to buy the Carousel Inn, a hotel that sits directly across Harbor Blvd from the theme park. The purchase price was $32 million.
“The Walt Disney Co. saw this as a strategic investment, as opportunities to purchase properties in close proximity to the resort are extremely rare,” said Suzi Brown, Disneyland’s spokeswoman.
It’s a good sign that Disneyland still has its eye on land acquisitions. Alas, theme park fans should not get their hopes up for a 3rd gate anytime soon. Other hotels along Harbor Blvd are unlikely to sell anytime soon. Most are owned by legacy families with no desire to sell.
Still, $32 million for a hotel the size and location of Carousel Inn is less than I thought Disneyland would have to pay to acquire that property. Perhaps, now that other nearby properties see the potential, they’ll be willing to make a deal with Disney?
Brown, said that Disneyland intends to let the hotel continue operating under current management and will not consider the hotel as part of it’s official portfolio of three hotels (Paradise Pier, Grand Californian, and the Disneyland Hotel).
Disney does own some land across from the convention center that would be perfect for a water park or boutique theme park? Do you think Disneyland should build there or wait for the opportunity to buy more land?
Source: OC Register. Images – Google Maps
There won’t be a third gate. Iger himself said that at the last shareholders meeting. If anything, they’ll hold off until the 60th events dies down, and then retheme it to fit their list of hotels, or keep it as-is, while working on a potential pedestrian bridge over Harbor. There’s a handful of ideas that could work for Disney and the city, but a 3rd gate within the next 10 years isn’t one of them.
It’s for the streetcar!