SmarTrend(R) News Watch: Disney Reaches Deal with Hong Kong for Expansion Project
Tue. June 30, 2009; Posted: 09:46 AM
Jun 30, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- Disney (NYSE:DIS) said Tuesday that it has reached a deal with Hong Kong to expand its Disneyland Hong Kong at a cost of $465 million. The expansion plan is aimed at attracting higher attendance to a park that has failed to meet its targets and has received numerous criticism for being to small. The Hong Kong park may have to also compete with another Disneyland in Shanghai which could take away business. The park opened in 2005 and missed its attendance targets for the first two years.
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