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  1. #31

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    Re: Euro Disney seeks budget increase to revive parks before key anniversary

    I hope it's not true about the Ratatouille ride being cancelled. Although it didn't necessarily appeal to me I think the resort needs a new ride for the 20th anniversary.

    I agree with DisneylandParis, I'm not sure Star Tours 2 would really have much of an impact if that is the only "new" ride for 2012. Although the Star Wars films are being re-released would that ride alone make people who are from England, Germany, Italy who are on the fence about whether to visit sway their decision? DLP are probably waiting to see what impact ST2 has in WDW and DLR before making any decisions.

  2. #32

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    Re: Euro Disney seeks budget increase to revive parks before key anniversary

    There it is what I can say to you :

    500 millions of € is planned for new attractions before 2020. Mainly for the WDS Park.

    Hi, I'm a french who tries to speak in English! Please forgive me for the horrible mistakes I make. And don't hesitate to correct me :-) Thank you!


  3. #33

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    Re: Euro Disney seeks budget increase to revive parks before key anniversary

    500 millions for new attractions? What the park needs first is real buildings insted of backdrops.
    After a fecelift and perhaps a name change they can start to make people aware of that there are TWO Disney parks in Paris and not just one.
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  4. #34

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    Re: Euro Disney seeks budget increase to revive parks before key anniversary

    My daughter just got back from Disney Paris. She said it was amazing and way more fun than our Disneyland here, loved it...but It closed at 5pm. That was a major disappointment.
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  5. #35

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    Re: Euro Disney seeks budget increase to revive parks before key anniversary

    Quote Originally Posted by DisneylandParis View Post
    There it is what I can say to you :

    500 millions of € is planned for new attractions before 2020. Mainly for the WDS Park.
    How will ED SCA fiance this €500 million plan, because until 2014 the company also wants to repay a part of its debt. Will they do that with the mentioned budget increase? And will TWDC be involved somehow?

    If ED SCA wants to increase the budget, that means that they have to sell shares. Is TWDC going to reduce its stake or will they increase it?

  6. #36

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    Re: Euro Disney seeks budget increase to revive parks before key anniversary

    It is a travesty that a jewel of a park like DLP is caught in this vice:

    1. The massive ($3 billion?!?) debt/interest on loans insures that venture will not be creating any significant surplus profits in the short or long-term (20+ years).
    2. The need to keep operating expenses at a minimum (necessary due to the financial straightjacket the company is in) has meant lack of attention to upkeep (which leads to even greater long-term costs), shorter park hours, less entertainment, fewer & cheaper attraction additions.
    3. The above diminishes guest experience, weakening future visitation/spending.
    4. Any capital injections must meet approval of the banks, limiting their scope and frequency.
    5. In order to try to achieve profitability managers haphazardly sell development rights around the finite property.

    The venture needs a financial re-restructuring. One might hope that The Walt Disney Company - already owners of 40% of EuroDisney SCA and willing to drop $4billion on a questionable Marvel acquisition, another $2 billion in Shanghai, and billions more on cruise ships and a DCA fix all in a couple year span - could consider acquiring all of DLP (and its debt), and erase as much debt as desirable over a short period (<5 years) from its own significant resources. Having righted the sinking ship, setting it on its feet, then bring in new management (goodbye P. Gas) and let DLP be a profit center (no longer a sink) for the Company like its domestic parks are.

    Once profitable, it can begin to do all the things necessary to expand its appeal (more entertainment, better maintenance, new attractions, and a total re-working of WDSP to bring it up to standard) and increase its audience.

  7. #37

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    Re: Euro Disney seeks budget increase to revive parks before key anniversary

    Quote Originally Posted by CMHusband View Post
    My daughter just got back from Disney Paris. She said it was amazing and way more fun than our Disneyland here, loved it...but It closed at 5pm. That was a major disappointment.
    It's a pleasure to hear that! It closed at 5pm?

    Quote Originally Posted by TimmyTimmyTimmy View Post
    500 millions for new attractions? What the park needs first is real buildings insted of backdrops.
    After a fecelift and perhaps a name change they can start to make people aware of that there are TWO Disney parks in Paris and not just one.
    When I say 'new attractions', that includes all area which goes with. Like buildings, maybe lake, and so on...
    And they think about a new orientation which would postpone backstage of the cinema. A new theme for WDS Park.

    Quote Originally Posted by Dagobert View Post
    How will ED SCA fiance this €500 million plan, because until 2014 the company also wants to repay a part of its debt. Will they do that with the mentioned budget increase? And will TWDC be involved somehow?

    If ED SCA wants to increase the budget, that means that they have to sell shares. Is TWDC going to reduce its stake or will they increase it?
    It's a consentement with banks (and maybe with TWDC). But don't forget : Banks will validate the projects only one by one.

    Quote Originally Posted by RandySavage View Post
    The venture needs a financial re-restructuring. One might hope that The Walt Disney Company - already owners of 40% of EuroDisney SCA and willing to drop $4billion on a questionable Marvel acquisition, another $2 billion in Shanghai, and billions more on cruise ships and a DCA fix all in a couple year span - could consider acquiring all of DLP (and its debt), and erase as much debt as desirable over a short period (<5 years) from its own significant resources. Having righted the sinking ship, setting it on its feet, then bring in new management (goodbye P. Gas) and let DLP be a profit center (no longer a sink) for the Company like its domestic parks are.

    Once profitable, it can begin to do all the things necessary to expand its appeal (more entertainment, better maintenance, new attractions, and a total re-working of WDSP to bring it up to standard) and increase its audience.
    TWDC cannot acquiring all of DLP! TWDC has no right to become majority a shareholder of the Group because of the "Convention de 1987"
    And acquiring debts? In 2004 it was bankruptcy or supervision of banks. TWDC in strangely chooses supervision, which them to avoid having to pay off the debts. So I don't think TWDC would be agree to pay off the debts.

    Hi, I'm a french who tries to speak in English! Please forgive me for the horrible mistakes I make. And don't hesitate to correct me :-) Thank you!


  8. #38

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    Re: Euro Disney seeks budget increase to revive parks before key anniversary

    Quote Originally Posted by DisneylandParis View Post
    When I say 'new attractions', that includes all area which goes with. Like buildings, maybe lake, and so on...
    And they think about a new orientation which would postpone backstage of the cinema. A new theme for WDS Park.

    It's a consentement with banks (and maybe with TWDC). But don't forget : Banks will validate the projects only one by one.

    TWDC cannot acquiring all of DLP! TWDC has no right to become majority a shareholder of the Group because of the "Convention de 1987"
    And acquiring debts? In 2004 it was bankruptcy or supervision of banks. TWDC in strangely chooses supervision, which them to avoid having to pay off the debts. So I don't think TWDC would be agree to pay off the debts.
    Of course TWDC doesn't choose bankruptcy. First it would ruin their fiscal year if they pay off the debts of an company that doesn't really belong to TWDC. Secondly, DLRP has already a bad reputation due to its bad financial situation and a bankruptcy would definately not help to improve the name.

    Does that mean ED SCA will not sell shares for the budget increase and instead the company will get the money from banks as a credit.

    I really don't get it why TWDC isn't more interested in their European park and invests in ED SCA. Even if they can't have the majority of the company, Disney could still rebuy the 10% of Prince Alwaleed.

    Hopefully the plan turns into reality and WDS will get a much needed makeover and maybe a little bit from the €500 million is left for Star Tours II.

  9. #39

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    Re: Euro Disney seeks budget increase to revive parks before key anniversary

    Quote Originally Posted by RandySavage View Post
    It is a travesty that a jewel of a park like DLP is caught in this vice:

    1. The massive ($3 billion?!?) debt/interest on loans insures that venture will not be creating any significant surplus profits in the short or long-term (20+ years).
    2. The need to keep operating expenses at a minimum (necessary due to the financial straightjacket the company is in) has meant lack of attention to upkeep (which leads to even greater long-term costs), shorter park hours, less entertainment, fewer & cheaper attraction additions.
    3. The above diminishes guest experience, weakening future visitation/spending.
    4. Any capital injections must meet approval of the banks, limiting their scope and frequency.
    5. In order to try to achieve profitability managers haphazardly sell development rights around the finite property.

    The venture needs a financial re-restructuring. One might hope that The Walt Disney Company - already owners of 40% of EuroDisney SCA and willing to drop $4billion on a questionable Marvel acquisition, another $2 billion in Shanghai, and billions more on cruise ships and a DCA fix all in a couple year span - could consider acquiring all of DLP (and its debt), and erase as much debt as desirable over a short period (<5 years) from its own significant resources. Having righted the sinking ship, setting it on its feet, then bring in new management (goodbye P. Gas) and let DLP be a profit center (no longer a sink) for the Company like its domestic parks are.

    Once profitable, it can begin to do all the things necessary to expand its appeal (more entertainment, better maintenance, new attractions, and a total re-working of WDSP to bring it up to standard) and increase its audience.
    You mentioned the land rights ED SCA is selling. In recent years the annual report wasn't that bad, because of selling parts of the property to third parties. I wonder what will happen when there is no more land ED SCA can sell. The company should concentrate on the themepark business and not on developing land.

  10. #40

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    Re: Euro Disney seeks budget increase to revive parks before key anniversary

    But Euro Disney needs a Carrefour!

  11. #41

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    Re: Euro Disney seeks budget increase to revive parks before key anniversary

    Hi guys. I am the author of the article you are discussing and I would like to add that I think it is very good news that the Euro Disney (EDL) management is refurbishing the attractions and hotels. It is very long overdue. However I really do not think that this is something they should be shouting about. It simply highlights the gulf of a difference between EDL and other Disney parks. In Orlando, California and Tokyo they shout about huge new attractions whilst refurbishments are just taken for granted. That is what I would like to see in Paris but there is nothing on the horizon except for refurbishments, an Earl of Sandwich and a new World of Disney.

    I think that the reason EDL's performance has stalled is that there is not enough pressure on the management. There are very few other companies in the world which would still be open after making the continued losses that EDL has made. It has made a net loss of €236.9 million over the past five years alone. However, the EDL management knows that the parks will not close because they have the backing of Disney and Prince Alwaleed. Obviously it is great that the parks will not close BUT the consequence of this is that the management may be under less pressure than a typical company when it makes a loss.

    In the current economic climate Alwaleed and Disney are unlikely to invest more money in EDL for several big attractions (since it is unlikely that they would generate a return within a short timeframe). Accordingly, funding will most probably have to come from the company itself but if there isn't enough pressure on the management then it may be less likely that it will generate enough profit to fund major expansion.

    True, EDL has lost many CEOs so there is always the pressure on Philippe Gas if the company continues to make losses. However, some of the other directors have been part of EDL's team since the day it opened. Given that the company has been on the verge of bankruptcy twice since it opened (and any normal company would have had to close) can it really justify having kept ANY of the management?

    I really want DLP to be able to compete with Orlando, California and Tokyo but I don't believe that there is enough pressure on the company to achieve this. The management always seems to say that everything is OK despite the problems it is facing. I understand that they have to accentuate the positives but if they have come to being proud of refurbishments I think they may well have lost sight of their goals. Put it this way, the masterplan for WDS isn't going to come close to completion with refurbishments alone!

  12. #42

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    Re: Euro Disney seeks budget increase to revive parks before key anniversary

    Thanks for posting. What is in the masterplan for WDS anyways?

  13. #43

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    Re: Euro Disney seeks budget increase to revive parks before key anniversary

    Quote Originally Posted by ChristianSylt View Post
    Hi guys. I am the author of the article you are discussing and I would like to add that I think it is very good news that the Euro Disney (EDL) management is refurbishing the attractions and hotels. It is very long overdue. However I really do not think that this is something they should be shouting about. It simply highlights the gulf of a difference between EDL and other Disney parks. In Orlando, California and Tokyo they shout about huge new attractions whilst refurbishments are just taken for granted. That is what I would like to see in Paris but there is nothing on the horizon except for refurbishments, an Earl of Sandwich and a new World of Disney.

    I think that the reason EDL's performance has stalled is that there is not enough pressure on the management. There are very few other companies in the world which would still be open after making the continued losses that EDL has made. It has made a net loss of €236.9 million over the past five years alone. However, the EDL management knows that the parks will not close because they have the backing of Disney and Prince Alwaleed. Obviously it is great that the parks will not close BUT the consequence of this is that the management may be under less pressure than a typical company when it makes a loss.

    In the current economic climate Alwaleed and Disney are unlikely to invest more money in EDL for several big attractions (since it is unlikely that they would generate a return within a short timeframe). Accordingly, funding will most probably have to come from the company itself but if there isn't enough pressure on the management then it may be less likely that it will generate enough profit to fund major expansion.

    True, EDL has lost many CEOs so there is always the pressure on Philippe Gas if the company continues to make losses. However, some of the other directors have been part of EDL's team since the day it opened. Given that the company has been on the verge of bankruptcy twice since it opened (and any normal company would have had to close) can it really justify having kept ANY of the management?

    I really want DLP to be able to compete with Orlando, California and Tokyo but I don't believe that there is enough pressure on the company to achieve this. The management always seems to say that everything is OK despite the problems it is facing. I understand that they have to accentuate the positives but if they have come to being proud of refurbishments I think they may well have lost sight of their goals. Put it this way, the masterplan for WDS isn't going to come close to completion with refurbishments alone!
    Thanks for joining in. I completly agree with your first abstract. Refurbishments should be taken for granted, especially at Disney. Disney set the standards on themepark maintenance and quality, but DLRP can't even compete with the other resorts in terms of cleanliness and in terms of hotels.

    The Disney hotels in Paris would have been closed down everywhere else in Europe. The quality for the money you have to pay is really bad.

    Unfortunately the management doesn't have to say a lot in the own company. Each new attraction has to be approved by banks. Maybe the future will be brighter, but it takes new attractions to attract more guests.

  14. #44

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    Re: Euro Disney seeks budget increase to revive parks before key anniversary

    Quote Originally Posted by CaliforniaAdventurer View Post
    Thanks for posting. What is in the masterplan for WDS anyways?
    Adding more Pixar branded carnival rides!

    Hopefully it includes an expansion of Hollywood Blvd. with real buildings and rides not based on toons. Something that appeals to grown ups as well. But I have to admit WDS lacks rides for children. Even two of the new three new TSPL rides aren't suitable for children, although these rides appeal mostly towards them.

  15. #45

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    Re: Euro Disney seeks budget increase to revive parks before key anniversary

    Quote Originally Posted by Dagobert View Post
    Maybe the future will be brighter, but it takes new attractions to attract more guests.
    The problem is that it is in a vicious circle at the moment - there are no new attractions so it is harder to attract more guests which makes it harder to get enough money to fund new attractions. I think that shareholders should campaign for a clean slate with completely new management. This would start to draw a line under the situation of the past.

    I also think it would make sense for TWDC to buy EDL in order to maintain a consistent standard at least. This won't happen since TWDC would then shoulder the losses but it would at least stop the poor state of EDL being a bad advert for the other parks. It is not consistent for one park to get a $200m new attraction (Radiator Springs Rally) in one year as a new additon and another park to get perhaps 10% of that spent on refurbishments as its new addition.

    I think you can read a great deal from the fact that the management is boasting about refurbishments. There is an expression which says 'one protesteth too much'. In a nutshell, the refurbs are nothing to be proud of so why shout about them?

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