上海迪斯尼.pptVIP

Shanghai Disneyland February 24, 2003 BA 456 Agenda Case Introduction Background Project Description Our Analysis Recommendation Questions? The Walt Disney Company Entertainment Conglomerate consisting of Media, Studio Entertainment, Consumer Products and Theme Parks Resorts Theme Park Resorts Division Current Park Locations: Anaheim, Orlando, Tokyo, Paris, Hong Kong (2005) Also includes: The Disney Cruise Line, Disney Regional Entertainment, The Disney Vacation Club, The Anaheim Angels, and the Mighty Ducks of Anaheim Revenues of $7 Billion in 2001, or 28% of company-wide revenue Disney’s Interest in China Long-term Consistently searching for areas of expansion where there are un-captured markets Current Government relations established through the Hong Kong Disneyland project indicate easier entry into the mainland Competitive Universal-Vivendi’s land purchase in Shanghai and proposed expansion into Beijing Agenda Case Introduction Background Project Description Our Analysis Recommendation Questions? Background: Disney Parks Disneyland, Anaheim: 1955 Walt Disney World, Orlando: 1971 Tokyo Disneyland:1983 Owned and operated by the Oriental Land Company Deal structure indicative of financial turmoil within the company in the early 1980s with a 0% Equity stake Revenue from royalties and management fees Disneyland Paris/Euro Disneyland: 1992 Disney retains 39% of Equity Interest and receives management fees as part of reported revenue Hong Kong Disneyland $1.8 Billion USD Project 60% Debt 80% Government 20% Commercial 40% Equity 43% Disney 57% Government (will eventually sell down ownership stake) 6 Million Visitors in its first full operating year, and 1.4 Million additional visitors to Hong Kong $148 Billion value added boost to the Hong Kong economy over the next 40 years 35,800 jobs created in the next 20 years Background: China Largest population in the world with relatively slow projected population growth 1.26 B (2001) - 1.5 B (2050F) 63 - 70% Rural High