Euro Disney reveal that it is planning a major overhaul of its sprawling shopping and dining complex as part of a $2.4 billion investment by its owner, the media giant Walt Disney.
From Forbes: Last month Disney’s chief executive Bob Iger announced a $2.4 billion (€2 billion) expansion of the movie-themed Studios park which will see the addition of lands inspired by Star Wars, Marvel Comics and hit animated film Frozen. It is one of Euro Disney’s biggest-ever expansion projects and will be launched in phases from 2021.
It doesn’t stop there as Disney has now revealed that it is also giving a sprinkle of pixie dust to its 44,000m2 Disney Village, the largest entertainment center in greater Paris.
“We have renewed a number of attractions in the parks so the next step will be to renew the Disney Village,” says Francis Borezée, Euro Disney’s vice president of resort and real estate development. The huge complex next to the parks was designed by renowned architect Frank Gehry and has an industrial style which was popular when it opened in the 1990s. It is packed with shops, restaurants and even a rodeo. It could get even bigger.
“We will start with the renovation but then we have an opportunity to expand where today we have tents which are used for business events,” says Borezée. “If we do that we could develop a new convention center.”
Given that the rodeo has been there since day one it is hard to imagine it staying in a renovation so one suggestion would be to switch it for a show based on a renowned Disney brand.
Disney is still deciding on the style of the Disney Village renovation according to Robert Earl, the owner of celebrity restaurant chain Planet Hollywood which has an outlet there. “There is a plan to renovate the restaurant in Paris but Disney are evaluating what they are doing first,” says Earl. “We are discussing with them about Planet Hollywood there but corporate in California haven’t yet decided.”
Disney took full ownership of its Parisian outpost in June last year and it has given a glow to its finances. Last month Disney announced that operating income at its parks and resorts rose 21% to $1.3 billion in the quarter to 31 December due to growth at its domestic operations and in Paris.
Disney’s chief financial officer Christine McCarthy said that it “continued to benefit from the resort’s 25th Anniversary celebration, which drove higher attendance, guest spending, and hotel occupancy. The resort set a new Q1 record in revenue and has now been profitable for the last three quarters.” It could have a knock-on effect.
Borezée says that the expansion of the Studios park could trigger the development of more hotels to add to the seven which are on-site.
“There are locations which are already dedicated for future hotels but there is no decision to go ahead with them until we have the need.” Euro Disney’s latest results show that occupancy in the six months to 31 March 2017 hit 81% so that may not be far off.