The Venture of Euro Disney（五）.docVIP

National Leadership Conference 2009 Anaheim, CA Workshop: Business Case Study/Discussion led by Gloria Lau, PBL National Secretary Objectives: To stimulate idea-sharing among PBL members and learn collaboratively through discussions. Instructions: Members interested in participating in the workshop should read the case before the workshop. Copies of the case are available on the PBL national website and on-site at the NLC. Members are encouraged to write down notes and ideas regarding the case. They are expected to speak and discuss their ideas during the workshop. Please do not hesitate to contact Gloria Lau, PBL National Secretary at pblsec@fbla.org should you have questions regarding the case of the workshop. Good Luck! The Venture of Euro Disney Gloria Lau, PBL National Secretary On April 12, 1992, Euro Disney was opened on time within its $4.4 billion budget. Situated in Marne-la-Vallee, France on a site that is one-fifth the size of Paris and just 20 miles to its west, Euro Disney was much like other Disney theme parks with a wide array of rides, attractions, hotels, restaurants, entertainment facilities, a campground, and even a championship golf course. Euro Disney is 49 percent owned by Walt Disney Company of the U.S. The company originally project 11 million visitors in the first year of operation for Euro Disney, but reported that attendance for the park’s first seven weeks had only been 1.5 million (it was expected that the majority of visitors have already been attracted to the park before the wet and colder fall and winter seasons, hence, attendance would have slow growth). The break-even point was estimated to be between seven and eight million. While the nearby French residents were projected to account for half of the park’s attendance, they only make up an unexpectedly small portion of the entire attending body. Meanwhile, the Disney restaurants and hotels only registered occupancy rates of just 37 percent. With revenues for its first q