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Disneyland Paris gets financial help

P

peep

CF Legend
Soz for yet another Paris topic but this is quite big news and I think it deserves it's own topic.

(Marne-la-Vallée, on 18 September 2012) - Euro Disney S.C.A., parent company of Euro Disney Associés S.C.A., operator of Disneyland® Paris, announces the refinancing Euro Disney group’s debt (excluding debt already extended by The Walt Disney Company) with new financing provided by The Walt Disney Company and two of its French subsidiaries, for an overall amount of 1,332 million euros.

The workers’ council has been consulted on the transaction and has rendered a favourable opinion thereon. In addition, the consent of all the creditors, necessary to implement the transaction, has been obtained.

The Supervisory Board of Euro Disney Associés S.C.A. met today and approved the transaction.

With this refinancing, the Group's average interest rate on its debt decreases meaningfully and the Group benefits from greater operational flexibility by removing the restrictive covenants under existing debt agreements, notably those related to restrictions on capital expenditures. Moreover, the extended maturity of the total debt to 2030 together with a more gradual debt repayment schedule will better position the Group to invest in long-term growth and drive value for all shareholders. The transaction is expected to close on 27 September 2012.

« This refinancing will enable us to reduce our financing costs and give us greater investment and operational flexibility. This is a key step in the development of our Resort that we pursue for the benefit for all of our stakeholders. I strongly believe this will be highly beneficial to the Company, its cast members and shareholders.», declared Philippe Gas, Chief Executive Officer of Euro Disney S.A.S.

Philippe Gas added: « The Walt Disney Company, with this transaction, reaffirms its continued confidence in Disneyland® Paris which has successfully become, over the past 20 years, the number one tourist destination in Europe, a growth driver of French tourism and an important ambassador of the Disney brand across Europe ».
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Source


This could lead to so many things but with the rumours about The Walt Disney Company taking over Disneyland Paris the other month is this just a first step or an alternative to the rumours?

Either way this is fantastic news and means Paris can start investing more money back into the Resort. I wonder what they'll opt for first considering the big list of attractions the Disneyland Paris CEO has already leaked in various interviews. I'm hoping for Star Tours 2 first.
 
YEAH THAT MEANS LOADS OF NEW RIDES.

Either that, or, we'll see no actual difference from an on-park perspective.

I feel it's probably the second option.
 
^It was never confirmed by TWDC. Sounds like it was leaked by pretty legit sources but rumours are that the news leaking spiked up the shareprice for Paris which in turn scared them off the idea lol.
 
I'm actually hoping for some sort of water ride as there are just none and something like Splash Mountain or a rapids ride what be good.

They need something big between Big Thunder and Indy.

They also need something mega to attract crowd and finally make a good profit to invest. It's no good spending 20 million if it takes 5 years to get it back.

The money from Disney is a 3rd chance for the park they have to take it this time. They seem on the right path though. I just hope they don't pump everything into the studio park like they have been.
 
marc said:
I'm actually hoping for some sort of water ride as there are just none and something like Splash Mountain or a rapids ride what be good.

They need something big between Big Thunder and Indy.

They also need something mega to attract crowd and finally make a good profit to invest. It's no good spending 20 million if it takes 5 years to get it back.

The money from Disney is a 3rd chance for the park they have to take it this time. They seem on the right path though. I just hope they don't pump everything into the studio park like they have been.
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It is legit and was done to keep the French Gov't from bailing it out and taking control.

For anyone who has not been to DLP in recent history then you should know then does not mean new rides in the slightest. The park is literally rotting and Christmas decor is still up as well as some ride layovers but turned off. There are much larger issues at hand with the park that will be addressed well before anything new of note.
 
Scoutn757 said:
marc said:
I'm actually hoping for some sort of water ride as there are just none and something like Splash Mountain or a rapids ride what be good.

They need something big between Big Thunder and Indy.

They also need something mega to attract crowd and finally make a good profit to invest. It's no good spending 20 million if it takes 5 years to get it back.

The money from Disney is a 3rd chance for the park they have to take it this time. They seem on the right path though. I just hope they don't pump everything into the studio park like they have been.
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It is legit and was done to keep the French Gov't from bailing it out and taking control.

For anyone who has not been to DLP in recent history then you should know then does not mean new rides in the slightest. The park is literally rotting and Christmas decor is still up as well as some ride layovers but turned off. There are much larger issues at hand with the park that will be addressed well before anything new of note.
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Where may I ask is your source that the WDC taking over was ever legit, yes they may have sent rumour mills running, no doubt, but actually going to happen, I highly doubt it. As of currently, how I understand it, TWDC cannot own 100% of the resort due to French laws. How also would it be there to stop the French govt, taking control, Euro Disney would have continued paying more and more in interest to the French banks, however I never recall hearing that The Walt Disney Company was ever going to give up its 40% share in EuroDisney SCA, which is how they run the park currently.

Btw, when it comes to a park rotting, I don't see that as the situation currently, with a CEO who cares a lot about the future of the resort, they are refurbishing practically everything within the resort, including all hotel rooms. Something which has needed to be done for years. If you had posted this 5 years ago about the decline I could understand, but not so much now. Also the It's A Small World decor which you speak of was taken down earlier this year, late in June, no doubt following a rather popular twitter account posting pictures that they were still up.

Personally I do believe this leeway with the payments will help the resort come up with new experiences and attractions, sadly I doubt this will result in an amazing large attraction such as Splash Mountain, but more about new attractions for the Studios, and possibly new shows are more likely. At least I can hope.
 
Scoutn757 when did you last go to DLRP? because they have just had a massive refurb of the whole park for the parks 20th anniversary. The Christmas decorations in the park are up from begginning of September till mid January so if you went during this period then you are bound to see Christmas decorations. Also the French Gov. don't have the money to run DLRP 100% it is more likely that Disney will do the 100% take-over not the French Govt if this was to ever happen.
 
Monksbain said:
Scoutn757 when did you last go to DLRP? because they have just had a massive refurb of the whole park for the parks 20th anniversary. The Christmas decorations in the park are up from begginning of September till mid January so if you went during this period then you are bound to see Christmas decorations. Also the French Gov. don't have the money to run DLRP 100% it is more likely that Disney will do the 100% take-over not the French Govt if this was to ever happen.
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Family was there for the 20th and decor was still up; Small World most noticeably. The way my source explained the laws on Entertainment and TWDC taking ownership was rather complicated. The basis I got from it was that TWDC cannot take sole ownership as a whole there but can set up a company there to take control and ownership. The gov't WAS inching closer to bailout. That of course is no secret and is found by various reputable people on certain boards as well. I'll see what kind of specifics I can get on it.
 
Nine Eye said:
Where may I ask is your source that the WDC taking over was ever legit, yes they may have sent rumour mills running, no doubt, but actually going to happen, I highly doubt it. As of currently, how I understand it, TWDC cannot own 100% of the resort due to French laws. How also would it be there to stop the French govt, taking control, Euro Disney would have continued paying more and more in interest to the French banks, however I never recall hearing that The Walt Disney Company was ever going to give up its 40% share in EuroDisney SCA, which is how they run the park currently.

Btw, when it comes to a park rotting, I don't see that as the situation currently, with a CEO who cares a lot about the future of the resort, they are refurbishing practically everything within the resort, including all hotel rooms. Something which has needed to be done for years. If you had posted this 5 years ago about the decline I could understand, but not so much now. Also the It's A Small World decor which you speak of was taken down earlier this year, late in June, no doubt following a rather popular twitter account posting pictures that they were still up.

Personally I do believe this leeway with the payments will help the resort come up with new experiences and attractions, sadly I doubt this will result in an amazing large attraction such as Splash Mountain, but more about new attractions for the Studios, and possibly new shows are more likely. At least I can hope.
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Bare with me, I am trying to remember to remove internal quotes. Too many different variations of forum software :evil:

The family who was there has photos of the bathrooms, the decor still up, and a load of minor things that should not be. The ship replacement was a huge deal and very much so needed.

Once again, the way my source explained the financial issues was rather intricate (Engineer who is owned by finances) so I will inquire again and pay closer attention to more details. There was/is a whole mess surrounding it. The investment in it is believed to up the quality which I am thrilled about; planning a trip out there within a year. TDS comes first though.
 
I also failed to notice this refurb work when we went in April.

Rides with effects not working, toilets broken etc.

But I did not notice any Xmas decorations up.

Now they have the money they can fix what's wrong. For me it's a new start for them.
 
Well, fingers crossed it is a fresh start. I don't mean to be negative but I'm not gonna get all excited just yet. Paris is certainly one of the prettiest in the Disney line up and I think that should be the first thing they look at. The parks and hotels need the spruce up.

After that I think they need a 'kiss goodnight' over at the studios. Much like with DCA and even the main park in Paris to an extent (since they have only really got a proper show this year), having an end of day show can work a lot of magic. Firstly it concentrates the majority of guests into one place ready to get them out of the park and secondly it also (or should) leaves guests in a warm, nostalgic and happy mood which in turn means they are that bit more likely to spend some cash in the shops.

The difference in atmosphere at the end of the day at the main park, for me at least, was palpable. Before this year, I found the show was a bit meh, many people I know felt the same. It was ok but people often felt a bit 'short changed' by what was essentially switching on the castle lights. There was no real buzz in the air. After seeing the new Dreams show in April. Wow, what a difference. Everyone seemed blown away by what they had seen and there was that buzz of excitement.

I have said it before, but I think a new version of Fantasmic would be great in the studios park. Probably not going to happen though :-(
 
Fantasmic would be perfect for the studios park, I don't know where they'd put it but yes, definitely.
 
See, the main reason I think Fantastmic would work so well, is because it has very little in the way of language barriers. The vast majority of the story is told via the songs and the visuals. If they updated it to include more of the modern stories or even the French based ones, it could work really well.
 
UC said:
See, the main reason I think Fantastmic would work so well, is because it has very little in the way of language barriers. The vast majority of the story is told via the songs and the visuals. If they updated it to include more of the modern stories or even the French based ones, it could work really well.
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Bingo.

They'll be focusing on the one at WDW first, though.
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Yeah, I heard some rumours about that. Particularly about replacing the Pochahontas section. Could you share any light on it? I know that on our last visit in 2010 they have spent a fair chunk upgrading sound/lighting/technical equipment...

I say, in terms of Paris, get rid of that DIRE excuse for a back lot tour and put in a Fantasmic arena there :p I suppose the only critism that would get is the fact its a large plot of land for something that can only be used at night (unless they devised a secondary use for during the day perhaps?
 
^ The only thing with that is, do they actually have the money to run a show like Fantasmic every single day? (This is where the Walt Disney Co take over would be a good thing...)

I also failed to notice this refurb work when we went in April.
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Off the top of my head, the castle, Orbitron and the Pirate ship all had major refurbs recently. And they are slowly kaing their way around all the hotels - and they are looking really good.
 
True, I didn't think of that. Although they could possibly look at it as a crowd puller too. Many people stick around in the park at the Florida version purely because of the reputation of the show. By them sticking around more money gets spent on food etc. The potential increased profits in those areas could possibly go someway to offsetting that expenditure?
 
In April the food was no better than in the past, but maybe they will be able to keep more open rather than close them at 4pm
 
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