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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!
