In a June 30, 2009 press release, Leslie Goodman, Executive Vice President for Worldwide Public Affairs, Walt Disney Parks and Resorts announced that Disneyland Hong Kong would be the subject of a long awaited expansion. The park, built in 2005, has garnered criticism for being light on attractions and small in size. The current expansion is slated to add 30 new attractions and 3 new exclusively themed areas.
Hong Kong Government Holds Share In Disney Park
Disney broke ground for the Hong Kong park on January 13, 2003 Lantau Island. Showing their support, the Hong Kong government weighed in heavily on the project with an investment total of $3.5 billion dollars. According to Min Lee in the September 12, 2007 New York Times Article, “Hong Kong Disneyland Marks Second Anniversary with Disappointing Attendance”, this meant that the Hong Kong government held a 57 percent share in the 3 acre park and hopes that Disney might be the means of a much needed shot in the arm to the sagging economy.
These statistics, confirmed by Disney, meant that reports of less than predicted attendance figures opening up the second year anniversary were not welcome news to government officials or to residents who had begun to question the use of government funds in what seemed to be amounting to a failing enterprise. Disney said that the small size of the park limited the number of attractions they could place. Others contended that at just 3 acres and holding, the park was too small to hold the projected number of guests Disney hoped to attract. This meant long lines and long waits. People tired of standing in line, stayed home.
Hong Kong Disney Expansion is Key
According to Lisa Thomas in the July 1, 2009 New York Times article “Can Hong Kong Disneyland Get the Magic Back”, plans to expand the park should be carried out over the next 5 years. While maps of the proposed expansion name the new themed areas as Grizzly Trail, Mystic Point and Toy Story Land, it has yet to be revealed what attractions will populate them. Both Grizzly Trail and Mystic Point will be exclusive to Hong Kong for the first 5 years, while Toy Story Land will be exclusive to Asia. The exclusivity of the deal may help to draw die hard Disney enthusiasts from other parts of the globe.
The expansion project, announced by Leslie Goodman, Executive Vice President for Worldwide Public Affairs, Walt Disney Parks and Resorts, as a means to “contribute to Hong Kong's appeal as an international, family-friendly tourist destination and the resort's long-term success," will also be primarily funded by Disney. Disney plans to inject $451 billion into the park while the Hong Kong government’s stake drops from 57% to 52%.
Analysts believe that the timing couldn’t be better. With tourism dropping amid swine flu scares and a steep drop in May attendance figures, both Disney and the Hong Kong government are hoping that news of the expansion will bring a little Disney magic back to the area.
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