Updated: 11/14 4pm EST – Two statements just released by Euro-Disney S.A.S. President Tom Wolber indicate that Disneyland Paris Resort will remain closed during the 3-day period of morning declared by the President of France. The statement in French was slightly different from the one… Read More »Disneyland Paris closed on November 14th after horrific attacks in city
Dapper Days started small, but, unbeknownst to even its creator, it had tapped into something in the eclectic society of Disney fans… a desire to show that our Disney fandom is more than just popcorn and churros. We like to get dressed up, maybe do… Read More »2016 Dapper Days Announced
After a six month period of refurbishment, the great steampunk themed Columbiad cannon, fired its first guests into the thrilling void of Space Mountain on July 25th where they found a completely renovated attraction for it’s 20th anniversary. The roller coaster is one of the… Read More »Space Mountain reopens at Disneyland Paris
Disneyland and Walt Disney World aren’t the only Disney theme parks targeted by ticket resale scammers, two people have been arrested in France on suspicion of reselling tickets bought via credit card fraud. According to police, the men were arrested while attempting to resell the… Read More »Disneyland Paris targeted by ticket resale scammers
This spring the vibrancy of the season will leap into life at Disneyland Paris in the “Swing into Spring” celebration. From March 1 to May 31, the park will feature beautiful floral sculptures, topiary, and a new swinging spring procession. Of course, there will be… Read More »Spring means music and flowers at Disneyland Paris
Disneyland Paris CEO Tom Wolber has a tough job, he has to get the French resort back on track. Not an easy assignment considering they just spent a ton of money building the Ratatouille attraction and attendance was still down over 2013. That said, there… Read More »Disneyland Paris CEO Thanks Cast
As a 10-percent holder of stock in Euro-Disney, Disneyland Paris’ parent company, Saudi billionaire Prince Alwaleed, potentially had the power to scuttle The Walt Disney Company’s $1.25 Billion bailout of Disneyland Paris. No one expected that action as the Prince had also supported previous debt… Read More »Saudi Prince will allow Disney’s rescue of Disneyland Paris
Looks like I will get to take that Disneyland Paris vacation after all. No one seriously expected the Walt Disney Company (or France for that matter) to let the park close. With around 15,000 employees and 15 million yearly visitors, it’s a huge boost to the French economy. In addition to a black-eye for Disney, a closure would spell bad things for an economy, which is, admittedly, at the beginning of a delicate recovery. That just wasn’t going to happen.
The park debt, much of it the result of building too many hotels when the park opened, has been an albatross around the resorts neck since its beginning. Multiple refinancings and capital investment have floated the park through restructurings that the company hoped would finally put it in the black.
Early this morning, Euro Disney SAS, the parent company of Disneyland Paris, sent out a letter to its shareholders announcing yet another debt restructuring and capital investment. They also released this oddly optimistic explanation from Mark Stead, SVP and CFO of Euro Disney:
Yes, that’s a $1.25 billion recapitalization of the company (think of it as a mini-bankruptcy, we’re increasing the number of shares, which makes your shares worth less, but less is better than none, which would result in a full bankruptcy).
The details were outlined in a letter sent to Shareholders from the recently appointed President of Euro Disney SAS Tom Wolber:
Read More »Disneyland Paris survives to live another day thanks to investment from TWDC