Disney Is Going Big With Shanghai Park and May Even Go Bigger
It isn’t breaking news that Walt Disney Co. (NYSE:DIS) is interesting in expanding its business to China, as the company announced as early as 2009 that it plans to build a theme park in the country along with open its first retail store there, but now that Disney is getting closer to its new park’s debut, reports say that it is already planning its expansion.
Disney first broke ground for its highly anticipated Shanghai resort back in 2011, officially making progress to open shop in the world’s most populous country. Thanks to China’s growing middle class, the country has been viewed as a gold mine for companies and retailers everywhere, and Disney has been quick to jump on the bandwagon, planning a Shanghai Disney Resort that Bloomberg reports will be almost 1,000 acres in size when it opens in late 2015. Walt Disney World in Orlando, Florida still boasts the status as Disney’s biggest resort, with Disneyland Paris coming in second, but the company’s newest park is now set to take third, and it may not even stand in that place for long.
According to Bloomberg, Disney Chief Financial Officer Jay Rasulo has not been shy about sharing his Shanghai expansion plans for the future, and he said at the UBS Global Media and Communications Conference in New York Monday that, “We’re opening the park for a pretty healthy number of attendees but more importantly both we and our partners and the Shanghai government are eager and willing to expand rapidly after that.”