Disneyland Paris has seen a decline in park attendance since the November Terrorist attack in Paris. In Euro Disney’s first quarter there was a 1.1 percent decline.
Tom Wolber, Euro Disney President said:
“We experienced strong demand leading up to the November 13th events in Paris, following which we experienced booking cancellations. Despite the softened tourism environment, we remain confident in our long-term strategy and we are encouraged by the resilience of the French market in particular,”
He also thinks the decision to close the theme parks for 4 days during the National mourning made a big impact on the revenue. This is the first time the parks have been closed since their opening in 1992. This decision was also a large factor in the 8% drop in visitors to the two theme parks, however spending in the parks was up 4%.
Euro Disney has been trying to reevaluate its business strategies for a while. In January 2015 shareholders approved a plan to raise one billion euros to help the park which is struggling due to a huge debt as well as falling visitor numbers. There are different measures in place, one including a 420 million euros of fresh funds from The Walt Disney Company here in the US. Follow the attacks in November a Saudi Prince who owns Riyadh-based Kingdom Holding Co offered to give 49.2 million euros to help re-plan Disneyland Paris.
This is disappointing to me as I hope to one get out to Paris to visit these theme parks, what do you think? Comment Below!
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I am surprised the attendance drop was just 1.1%. I thought it could have been something between 10 to 25%. The associated hotels’ daily rates fell a lot right after the attacks. Disneyland Paris is special, I’ve been there and stayed at Disney’s Newport Bay Club Hotel. Which is a magnificent building as well as other Disney hotels. Different from their American counterparts, European Disney hotels do include breakfast in their daily rate. The color palette of Sleeping Beauty Castle and Disneyland (Paris) Hotel is lovely. I have a hard time deciding which is the most gorgeous property: Disneyland (Paris) Hotel or Disney’s Grand Floridian Resort and Spa. Disneyland Paris is the most visited turist attraction in Europe and has lots of die-hard fans. A new associated hotel just opened (B & B Hotel) and there’s a whole new resort being built. The company just has to find a way to make this success really profitabe in an enviroment with a stronger current than the American Dollar and where guest don’t buy as much merchandise as in the USA and Japan.