Resorts Hong Kong Disneyland expansion

[MVP]

quick question how is 5 Billion HK only 645 Million US that does not seem right what is the exchange rate?

wow never mind i did the found the exchange rate thing on the net and its 7.4 cents HK to 1.00 US dollar, wow no wonder we have are stuff made over there

http://coinmill.com/HKD_USD.html#USD=1

[Tom Morrow]

Disney and government negotiate funding Hong Kong Disneyland expansion

Expanding Disney in talks to convert loan The Standard, Hong Kong The government may have to forego part of the HK$6.1 billion it loaned to Hong Kong Disneyland as a result of the company's decision to expand the park. Hong Kong Disneyland managing director Andrew Kam Min-ho said last week the government does not need to inject more money into the project, assuring that it would remain the major shareholder. But a source said Disney is now negotiating with the government to convert part of the loan as its share of capital expenditure. The Walt Disney Company has said it will inject about HK$3.5 billion to expand the park area by 67 percent. But the source told The Standard's sister newspaper, Sing Tao Daily, that if the government foregoes part of the loan as shares, it would be in effect financing the expansion. Nickkita Lau complete article

Sent from Ezra

[believeinmagic4ever]

That's a good idea. It could use some more stuff in it's park.

[Tom Morrow]

New attraction proposed for 2011

Disney to unveil new attraction at Hong Kong park by late 2011 report CNN Money Walt Disney Co. aims to unveil a "major new attraction" in Hong Kong Disneyland by late 2011, if the Hong Kong government approves the company's expansion plans this year, the South China Morning Post reported Saturday citing unnamed sources. The paper cited sources as saying Disney is planning a HK$3 billion-HK$4 billion expansion by adding three themed areas. The Hong Kong government owns a 57% stake in the park. by Aries Poon, Dow Jones Newswires

Sent from Ezra

[cap10hook72]

Hmm... Details would be nice! Ah well, at least there are plans for progression and improvement. HKDL desperately needs it, so I'm glad to hear that there are plans for improvement.

[princesschloe777]

Hmm, that is interesting. I hope they are able to find enough funds to perform the expanison that would be nice! :)

[Ezra]

Alain Littaye has some juicy rumors about this expansion on his blog. Here's a link:

Hong Kong Disneyland : Coaster to the Rescue !

[Disneyknight467]

WOW! I'd love to see an entire "Pirate's" land in HKDL, especially with that splash they're talking about, but what's confusing me is that in the original POTC, you would go down a waterfall like time-traveling back in time, then go up one, like you're returning to your own time. I don't know how they'll be able to stick with that if they plan on it, and still add in a splash "outdoors" at the end.

The Grizzly Mine Show ride sounds really interesting. I picture it as a dark, gray mining mountain high in the sierra's with a spooky, haunted look to it at night. It sounds pretty promising so far for HKDL.

[Big Disney Fan]

Originally Posted by Disneyknight467

The Grizzly Mine Show ride sounds really interesting. I picture it as a dark, gray mining mountain high in the sierra's with a spooky, haunted look to it at night. It sounds pretty promising so far for HKDL.

Well, from what I've read on "Disney and more", the Grizzly Mine Show may be part of a brand-new Frontierland to be added, taking the place most likely of Big Thunder Mountain, but until I hear from some official news resource (or Al Lutz or Screamscape.com or something like that), I'm just going to take this rumor with a grain of salt. I actually hope that they simply use this as an updated Big Thunder. I think they should use Disneyland's Bryce Canyon look of the ride as the mountain theme.

[Tom Morrow]

Disney halts expansion, cuts jobs

Disney reportedly halts HK expansion, cuts jobs MarketWatch The Walt Disney Co. has halted all creative and design work on the expansion of Hong Kong Disneyland, cutting more than 30 jobs, the South China Morning Post reported Tuesday, citing unnamed sources. The staff were laid off after the Hong Kong government, which holds a 57% stake in Hong Kong Disneyland, told the company there is no timetable for the expansion of the theme park, the report said. Despite earlier hopes of a breakthrough in negotiations with the Hong Kong government this year, the sources said senior management at Disney didn't see any progress being made in the next six months. Newspaper Web site: http://www.scmp.com MarketWatch Hong Kong

Submitted by Ezra

[Tom Morrow]

Hong Kong government "puzzled" by Disney shut-down

Disney Halts Hong Kong Design Work, Raising Government Tensions Bloomberg News Walt Disney Co., the second-largest U.S. media company, halted creative and design work on the expansion of its Hong Kong theme park, leading to 30 job cuts and raising tensions with Hong Kong’s government. The theme-park operator said it still hasn’t reached an agreement with the government on an expansion plan after two years of investment and negotiations. The city government, which owns 57 percent of the venture, said the cuts aren’t conducive to the talks. “The uncertainty of the outcome requires us to immediately suspend all creative and design work on the project,” Leslie Goodman, executive vice president of Walt Disney Parks and Resorts’ worldwide public affairs, said in a statement today. Hong Kong’s government is “puzzled” by Disney’s decision, the Commerce and Economic Development Bureau said in an e-mailed statement today. “We have expressed grave concern about the decision and urged the company to reconsider.” Both Alannah Hall-Smith, a Disney spokeswoman, and B.C. Lo, Hong Kong Disneyland’s vice president for public affairs, declined to add to Goodman’s comments in phone interviews today. By Theresa Tang and Tom Kohn complete article

Submitted by Ezra

[Ezra]

Business Week has a longer, more in-depth piece. It's about how the Hong Kong government really needs this expansion. Disney may be playing hard-ball to get them to cough up some of the dough to make it happen:

Hong Kong Disneyland's Future Is in Danger

[Big Disney Fan]

Originally Posted by Ezra

Business Week has a longer, more in-depth piece. It's about how the Hong Kong government really needs this expansion. Disney may be playing hard-ball to get them to cough up some of the dough to make it happen:

Hong Kong Disneyland's Future Is in Danger

What are the odds that the park may in fact forever shut down?

[BPBfan]

Originally Posted by Ezra

Business Week has a longer, more in-depth piece. It's about how the Hong Kong government really needs this expansion. Disney may be playing hard-ball to get them to cough up some of the dough to make it happen:

Hong Kong Disneyland's Future Is in Danger

Look at DLRP, though it's still struggling a little bit, they've turned the losses into success. Even though they still have ways to go, at least they didn't shut down the park.

Disney has NEVER shut down a theme park, and I'm sure they won't start with HKDL.

[Big Disney Fan]

Originally Posted by BPBfan

Look at DLRP, though it's still struggling a little bit, they've turned the losses into success. Even though they still have ways to go, at least they didn't shut down the park.

Disney has NEVER shut down a theme park, and I'm sure they won't start with HKDL.

Well, they almost did shut down DLRP, and there's the likelihood that they will do it with HKDL.