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Disneyland Paris
Disneyland Paris is an entertainment resort in Marne-la-Vallée, France, located about 32 kilometres (20 miles) east of the city centre of Paris. It encompasses two theme parks, seven Disney-owned hotels, two convention centers, a golf course, an arena, and a shopping, dining and entertainment complex. Opened on 12 April 1992, the resort is operated by Disney Experiences, a division of the Walt Disney Company.
It is the second Disney park outside the United States, following the opening of the Tokyo Disney Resort in 1983. Disneyland Paris is also the only Disney resort outside of the United States to be completely owned by the company. Disneyland Park, opened in 1992, is the original theme park of the complex. A second theme park, Walt Disney Studios Park, opened in 2002.
The resort is located on approximately 2,100 hectares (5,200 acres) of land which is being developed under a master agreement with French governmental authorities. About half of the land has been developed, including a planned community, Val d'Europe.
Disneyland Paris is Europe's most-visited theme park, and the largest single-site employer in France with 17,000 employees. It generated $343 million in profit for Disney in 2023. By 2022, 375 million people had visited the park.
The Walt Disney Company announced a €1 billion plan (equivalent to US$1.25 billion at the time) to rescue the financially struggling Disneyland Paris resort, the Financial Times reported on 6 October 2014. The park was burdened by its debt, which at the time was calculated at about €1.75 billion (US$2.2 billion), roughly 15 times its gross average earnings.
Up to that point, Disney only held a minority ownership stake in the resort. In early 2017, the company purchased 9% of Euro Disney S.C.A., buying 9% from Kingdom Holding and issued a tender offer of €2 per share for the remaining stock. This brought The Walt Disney Company's total ownership to 85.7%. The Walt Disney company also invested an additional €1.5 billion to strengthen and develop Disneyland Paris. In June 2017, Disney completed its tender offer and at the time owned over 97% of Euro Disney. It then implemented a full buyout of the shares they did not already own. In 2018, after taking full control of Disneyland Paris, Walt Disney reported its plans to invest €2 billion (US$2.47 billion) into the Disneyland Paris resort.
Following the success of Disneyland in California, plans to build a similar theme park in Europe emerged in 1966 with sites in Frankfurt, Paris, London or Milan under consideration. Under the leadership of E. Cardon Walker, Tokyo Disneyland opened in 1983 in Japan with instant success, forming a catalyst for international expansion. In late 1984 the heads of Disney's theme park division, Dick Nunis and Jim Cora, presented a list of approximately 1,200 possible European locations for the park. Britain, France, Italy and Spain were all considered. However, Britain and Italy were dropped from the list due to both lacking a suitable expanse of flat land. By March 1985, the number of possible locations for the park had been reduced to four; two in France and two in Spain. Both nations saw the potential economic advantages of a Disney theme park and offered competing financing deals to Disney.
Both Spanish sites were located near the Mediterranean and offered a subtropical climate similar to Disney's parks in California and Florida. Disney had asked each site to provide average temperatures for every month for the previous 40 years, which proved a complicated endeavour as none of the records were computerised. The site in Pego, Alicante became the front-runner, but the location was controversial as it would have meant the destruction of Marjal de Pego-Oliva marshlands, a site of natural beauty and one of the last homes of the almost extinct Samaruc or Valencia Toothcarp, so there was some local outcry among environmentalists. Disney had also shown interest in a site near Toulon in southern France, not far from Marseille. The pleasing landscape of that region, as well as its climate, made the location a top competitor for what would be called Euro Disneyland. However, shallow bedrock was encountered beneath the site, which would have rendered construction too difficult. Finally, a site in the rural town of Marne-la-Vallée was chosen because of its proximity to Paris and its central location in Western Europe. This location was estimated to be no more than a four-hour drive for 68 million people and no more than a two-hour flight for a further 300 million.
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Disneyland Paris
Disneyland Paris is an entertainment resort in Marne-la-Vallée, France, located about 32 kilometres (20 miles) east of the city centre of Paris. It encompasses two theme parks, seven Disney-owned hotels, two convention centers, a golf course, an arena, and a shopping, dining and entertainment complex. Opened on 12 April 1992, the resort is operated by Disney Experiences, a division of the Walt Disney Company.
It is the second Disney park outside the United States, following the opening of the Tokyo Disney Resort in 1983. Disneyland Paris is also the only Disney resort outside of the United States to be completely owned by the company. Disneyland Park, opened in 1992, is the original theme park of the complex. A second theme park, Walt Disney Studios Park, opened in 2002.
The resort is located on approximately 2,100 hectares (5,200 acres) of land which is being developed under a master agreement with French governmental authorities. About half of the land has been developed, including a planned community, Val d'Europe.
Disneyland Paris is Europe's most-visited theme park, and the largest single-site employer in France with 17,000 employees. It generated $343 million in profit for Disney in 2023. By 2022, 375 million people had visited the park.
The Walt Disney Company announced a €1 billion plan (equivalent to US$1.25 billion at the time) to rescue the financially struggling Disneyland Paris resort, the Financial Times reported on 6 October 2014. The park was burdened by its debt, which at the time was calculated at about €1.75 billion (US$2.2 billion), roughly 15 times its gross average earnings.
Up to that point, Disney only held a minority ownership stake in the resort. In early 2017, the company purchased 9% of Euro Disney S.C.A., buying 9% from Kingdom Holding and issued a tender offer of €2 per share for the remaining stock. This brought The Walt Disney Company's total ownership to 85.7%. The Walt Disney company also invested an additional €1.5 billion to strengthen and develop Disneyland Paris. In June 2017, Disney completed its tender offer and at the time owned over 97% of Euro Disney. It then implemented a full buyout of the shares they did not already own. In 2018, after taking full control of Disneyland Paris, Walt Disney reported its plans to invest €2 billion (US$2.47 billion) into the Disneyland Paris resort.
Following the success of Disneyland in California, plans to build a similar theme park in Europe emerged in 1966 with sites in Frankfurt, Paris, London or Milan under consideration. Under the leadership of E. Cardon Walker, Tokyo Disneyland opened in 1983 in Japan with instant success, forming a catalyst for international expansion. In late 1984 the heads of Disney's theme park division, Dick Nunis and Jim Cora, presented a list of approximately 1,200 possible European locations for the park. Britain, France, Italy and Spain were all considered. However, Britain and Italy were dropped from the list due to both lacking a suitable expanse of flat land. By March 1985, the number of possible locations for the park had been reduced to four; two in France and two in Spain. Both nations saw the potential economic advantages of a Disney theme park and offered competing financing deals to Disney.
Both Spanish sites were located near the Mediterranean and offered a subtropical climate similar to Disney's parks in California and Florida. Disney had asked each site to provide average temperatures for every month for the previous 40 years, which proved a complicated endeavour as none of the records were computerised. The site in Pego, Alicante became the front-runner, but the location was controversial as it would have meant the destruction of Marjal de Pego-Oliva marshlands, a site of natural beauty and one of the last homes of the almost extinct Samaruc or Valencia Toothcarp, so there was some local outcry among environmentalists. Disney had also shown interest in a site near Toulon in southern France, not far from Marseille. The pleasing landscape of that region, as well as its climate, made the location a top competitor for what would be called Euro Disneyland. However, shallow bedrock was encountered beneath the site, which would have rendered construction too difficult. Finally, a site in the rural town of Marne-la-Vallée was chosen because of its proximity to Paris and its central location in Western Europe. This location was estimated to be no more than a four-hour drive for 68 million people and no more than a two-hour flight for a further 300 million.