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
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
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:
Update: the other shoe dropped for Disneyland Paris, the good news? It was a glass slipper from TWDC: http://bit.ly/1xVukOG
What is going on at Disneyland Paris? It’s the most popular theme park in Europe in terms of attendance, but it continually struggles with profitability. This year has been particularly rough. It lost its president Phillipe Gas to Shanghai Disneyland, has been in the news for the shoddy condition of many of its attractions, and is down over a million visitors from the previous year. There is no way to put a silver lining on it. The situation is not good.
On the other hand, the park’s second gate recently opened a Ratatouille attraction that has breathed some life into that park, there are rumors of a major Star Wars addition being planned, and it’s having a Halloween Festival that is getting good reviews. All signs that the park is on the right track.
So which is it? Unfortunately, it appears that the storm clouds are gathering for the park. It will be holding a special meeting with the workers’ council on Monday to discus the park’s cash crunch. The meeting is timed for just before the Paris Stock Exchange opens.
Read More »Disneyland Paris holding emergency meeting re: its very future
A sad accident at Disneyland Paris yesterday where a 5 year old boy was hospitalized with serious injuries after falling off the boat he was riding in on the Pirates of the Caribbean attraction. According to reports, the child fell off the boat and ended… Read More »5 Year Old Boy Injured on Pirates Of The Caribbean at Disneyland Paris
Is it time for Disneyland Paris to get an extreme theme park makeover? Parcorama makes a strong case for it. Last week I spent a couple of days at Disneyland Paris. Just before the summer season, when the resort state and program usually is at… Read More »Disneyland Paris Much in Need of TLC says Report
A debt refinancing deal has allowed Euro Disney, the management company for Disneyland Paris Resort, to narrow the gap between debt and profitability. Disneyland Paris just turned 20 and has only managed to post a profit 7 of those years. Giant debt is most of… Read More »Euro Disney Continues to Post Losses, but Gap Narrows
I’ve never been to Disneyland Paris (I missed the grand opening by 3 months too early); a deficiency I hope to rectify some day soon. A new video celebrating Disneyland Paris’ 20th Anniversary fits some of the highlights of the last twenty years into a… Read More »Generation Disney – Disneyland Paris 20th Anniversary Video