With its towers of oxidised silver and bronze-coloured stainless steel under a canopy of lights, it opened as Festival Disney. At the time of the opening in April 1992, seven hotels collectively housing 5,800 rooms had been built.Īn entertainment, shopping, and dining complex based on Walt Disney World's Downtown Disney was designed by Frank Gehry. Stern, Stanley Tigerman, and Robert Venturi) decided on an exclusively American theme in which each hotel would depict a region of the United States. In March 1988, Disney and a council of architects ( Frank Gehry, Michael Graves, Robert A.M. In order to provide lodging to patrons, it was decided that 5,200 Disney-owned hotel rooms would be built within the complex. Through the hotel is the entrance ticket hall to the Park. Plans for a theme park next to Euro Disneyland based on the entertainment industry, Disney-MGM Studios Europe, quickly went into development, scheduled to open in 1996 with a construction budget of US$2.3 billion. Construction began in August 1988, and in December 1990, an information centre named "Espace Euro Disney" was opened to show the public what was being constructed. The final contract was signed by the leaders of the Walt Disney Company and the French government and territorial collectivities on 24 March 1987. Michael Eisner signed the first letter of agreement with the French government for the 20-square-kilometre (4,940-acre) site on 18 December 1985, and the first financial contracts were drawn up during the following spring. 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. 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. However, shallow bedrock was encountered beneath the site, which would have rendered construction too difficult. The pleasing landscape of that region, as well as its climate, made the location a top competitor for what would be called Euro Disneyland. Disney had also shown interest in a site near Toulon in southern France, not far from Marseille. 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 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 and were registered on paper. ![]() Both nations saw the potential economic advantages of a Disney theme park and offered competing financing deals to Disney.īoth Spanish sites were located near the Mediterranean and offered a subtropical climate similar to Disney's parks in California and Florida. By March 1985, the number of possible locations for the park had been reduced to four two in France and two in Spain. ![]() However, Britain and Italy were dropped from the list due to both lacking a suitable expanse of flat land. Britain, France, Italy and Spain were all considered. 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. Cardon Walker, Tokyo Disneyland opened in 1983 in Japan with instant success, forming a catalyst for international expansion. History Seeking a location for a European resort įollowing the success of Disneyland in California, the plans to build a similar theme park in Europe emerged in 1966 with sites in Frankfurt, Paris, London or Milan under consideration. On 19 June 2017 Disney completed a tender offer to own over 97% of Euro Disney and then implemented a full buyout of the shares they did not already own. The Walt Disney company will also invest an additional 1.5 billion euros to strengthen the company. ![]() ![]() This brought The Walt Disney Company's total ownership to 85.7%. In 2017, The Walt Disney Company offered an informal takeover of Euro Disney S.C.A., buying 9% of the company from Kingdom Holding and an open offer of 2 euros per share for the remaining stock. Until June 2017, Disney only held a minority stake in the resort, when they bought the remaining shares. The park is burdened by its debt, which is calculated at about €1.75 billion ($2.20 billion) and roughly 15 times its gross average earnings. Walt Disney announced a €1 billion ($1.25 billion) bailout plan to rescue its subsidiary Disneyland Paris, the Financial Times reported on 6 October 2014. 6.2 Shopping, dining, and entertainment.2.6 Financial, attendance and employment struggles.2.1 Seeking a location for a European resort.
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