Euro Disney Reports Higher Visitor Numbers
Friday 15 June 2007
Euro Disney has reported a record number of visitors for their half year ending 31 March 07.Visitors to the troubled theme park 40 kilometres east of Paris were up by nearly 11% on the same period last year, to reach a record 6.1 million.
Each visitor spent an average of €43, an increase of nearly 3% on the previous year. Hotel occupation at the park was also up by 5% to reach an 83% level of occupation.
Euro Disney is the Europe’s largest leisure attraction, with around 12 million visitors a year. It sits on a huge site of 2000 hectares, 30 kilometres east of Paris near the town of Marne–la-Valleé.
Nevertheless, despite its popularity, it has been a loss-making venture since it opened in 1992, and has only been kept alive by the deep pockets of its two main shareholders, the Walt Disney Corporation, and the Saudi Arabian prince, Al-Walid bin Talal.
Despite the improved visitor numbers, in the latest reporting period the business incurred losses of €82 million on a turnover of €513 million, and has around €2 billion in debt.
The only part of the whole operation that is profitable is that relating to property development on land around the site, mainly because of a very lucrative deal Disney did with the public authorities when the park was established.
The scale and nature of these property development activities has caused a massive growth in the number of homes in the area, with a Disney imprint on many of the architectural styles, to the extent that a backlash by some of the local authorities and the local population has emerged.
Euro Disney continues to invest in new attractions on the site, with two new rides open this year.
A new TGV link to the North East also opened last week, with the hope that this will increase visitors numbers from Germany who, hitherto, have been shy of visiting the park.
