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Transcript of Euro Disney
U.S. is 100% ownership
Disney understood the environment Disney was nervous about the unknown
Pure licensing agreement
Received royalties from admissions, etc. Michael Eisner- How Disney's interests can be protected and furthered? Get the right people
Target the right segment
Customized culturally Protect and Further
Disney Continued growth domestically
Continued growth internationally
Diversification Future of Disney Euro Disneyland SCA – Build and own the park
Disney 49% ownship, 51% IPO
Euro Disnelyand SA – management company
3% of total revenue (6% after 5 yrs)
Incentives: up to 50% of net profits.
All expenses paid
EDL Holding – assumed all liability for .5% net profits.
Euro Disneyland SNC –leases facilities to ED SCA.
Managed by subsidiary and assumed full debt liability
License agreement – 5-10% to Walt Disney Company Disney waives management fees and royalties
Disney cancels receivable and reduces lease.
Disney sells 10% ownership in Euro Disney to Prince Alwaleed Bin Talal Bin Abdulaziz Al Saud.
Disney’s ownership is reduced to 39% Restructure Structure:
Consolidate ownership and management
Lower prices: admission and hotels
Renegotiate labor contracts to allow for seasonal closure
Defer phase two development Recommendations Tokyo’s Success and Enthusiasm
$573,000,000 in royalty income from Tokyo
2 million visitors each year from Europe Why an International Amusement Park? Close to a large population + disposable income
Qualified labor and a local tourist draw
Sufficient land + expansion capabilities
Proper infrastructure (water + electricity) Planning & Development: 4 Criteria Better Infrastructure vs. Barcelona
Strong backing from the French government
10 million lived in the greater Paris area
European vs. US vacation time
Paris attracted vast amounts of tourism Why Paris? In what ways did Disney adapt to a French and European context? How effective was this adaptation? Should Disney have adapted more or less? Most common pose in a Google photo search for “French/American vacation photos” USA France Typical vacation photo Most common meal in a Google photo search for “French/American breakfast” USA France Most common breakfast Most common meal in a Google photo search for “French/American snacks” USA France Typical snack Most common meal in a Google photo search for “French/American dinner” USA France Most common dinner Most common colors in a Google photo search for “French/American fashion show” USA France Typical fashion Most common theme in a Google photo search for “Disney World France/Florida” USA France Disney World European heritage
European social behavior
New American themes
Human relations management Adaptations to the European culture Cinderella lives in a French inn
Snow-white’s home in a Bavarian village
Alice in wonderland, 5000 sq ft hedge
maze European heritage Aversion to queuing
Disney's no alcohol policy
Sit down dinning
Higher quality in hotels as well as restaurants European social behavior Wild west theme New American themes The US Human recourse management practices
Above average height and below average weight
Very modest make-up
Specific colors Human relations management Euro Disney S.C.A. Annual Report Effective! Thank you!