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1 1. Revenue the World Theme Park Market Is Projected to Be $28.7 1. Revenue The World theme park market is projected to be $28.7 billion by 2010. The U.S. is the top in the theme park market with North Asia coming in second. The company said the Hong Kong park drew fewer visitors from October to December 2006 than in the same period the previous year amid otherwise stellar first-quarter fiscal year 2007 results. Attendance and sales at the park also fell short of projections. Disney will then be forced to refinance the US$294 million (HK$2.29 million) in debt taken out for the park. http://www.thestandard.com.hk/news_detail.asp?pp_cat=1&art_id=37951&sid=12132412&con_type=1 Friday, February 09, 2007 2. Size of Company Hong Kong Disneyland Park Overview Hong Kong Disneyland opened September 12, 2005. The park is Disney's fifth "Magic Kingdom"-style park, and the company's first theme park in China. It is by far the smallest Magic Kingdom park, lacking popular attractions such as Pirates of the Caribbean, Haunted Mansion and Big Thunder Mountain. Hong Kong Disneyland is located on Lantau Island in Hong Kong. By train, take the MTR Tung Chung line to Sunny Bay Station, then to the Disneyland Resort Station. Hong Kong Disneyland is 10 minutes from the Hong Kong International Airport. Disney contracts with over 40,000 factories and 6,000 vendors around the world. It has established an International Labor Standards code and oversight group, and it utilizes independent auditors in its overseas factories. Despite the ILS program and its associated collaborative monitoring project in China which includes NGOs in addition to the internal and independent monitors employe, Disney continues to come under public scrutiny for questionable labor practices. Motivated by the opening of Hong Kong Disneyland in 2005, the Hong Kong-based NGO SACOM launched a series of campaigns to hold Disney accountable for labor practices in the factories which make its products. SACOM's "Looking for Mickey Mouse's Conscience" campaign emphasizes that Disney's contractors ought to comply with Chinese labor laws. 3. Global Reach While Walt Disney is one of the world's leading producers and providers of entertainment and information, theme parks have been facing difficulty. Both on the national and international levels, Disney Theme Parks have been forced to face economic down turns as well as negative opinions. There are many parks that compete with Disneyland and Disneyworld in the United States, Paramount Parks is a main competitor as well as Six Flags. Internationally, Ocean Parks is a main competitor, particularly for the Hong Kong location. Walt Disney sees the Hong Kong theme park - which they refer to as "our flagship in China" - as a leading example of the company's top-priority effort to expand internationally. It has been hoping to use the Hong Kong experience to gain Chinese government approval for a theme park in Shanghai. Hong Kong Disneyland is operated by Hong Kong International Theme Park, a joint venture between Walt Disney and the SAR government. Hong Kong Disneyland vice president for public affairs BC Lo said in an emailed statement that the management of the park is taking "a number of steps to address challenges" and is also considering future opportunities to expand the park, which many say is too small. 1 "It is important to remember that a significant amount of Hong Kong Disneyland's business will come in the third and fourth quarter as it does in all Disney Parks around the world," Lo said. In preparation for the upcoming Lunar New Year holiday, Hong Kong Disneyland launched a marketing campaign on February 2 that sees traditional Disney characters Mickey, Goofy and Donald Duck frolicking around the park in traditional Chinese clothing. The park has also been decked with red and gold decorations said to invite prosperity and good fortune. http://www.thestandard.com.hk/news_detail.asp?pp_cat=1&art_id=37951&sid=12132412&con_type=1 4. Customer Perception/Attitudes- Testimonials “It's an amazing place. I never stopped smiling from morning until night - The place is just AWESOME!!!” - Warren Sanchez from Philippines (visited on 13 November 2008) “回disneyland i love u ....” - candylim85 from Malaysia (visited on 24 November 2008) “Our first time to HongKong DisneyLand has truly transformed into a magical moment which we will cherish many years down the road. We were really lucky to be selected as the grand marshal family, to be part of the parade. It was a memorable experience for all of us especially my children. We enjoyed the rides and the performances by Mickey and friends. The staff were friendly and cheerful which makes us feel really comfortable in a foreign land, Especially Ms Sze and Ms Jo. Thank you very much!” - Perry Ng from Singapore (Visited on 20 November 2008) “It's me again! Ever since we've become annual pass holders of the HK Disneyland, I and my parents experienced countless wonderful moments. We do agree Disneyland is the place where we can set aside our worries and enjoy the rest of our day in pressure-free environment! Today is our 50th time of visiting this magical world, it's always our honor to receive the happiness from all the professional staff, especially Chi and Mavis, serving us in a courteous and friendly way=) We are looking forward to experience more unpredictable and unforgettable moments in the coming visits.” - Kitty Luk from Hong Kong (Visited on 9 November 2008) Time of your life at Hong Kong Disneyland The Hong Kong Disneyland combines the magical fantasy with Chinese ambience to create an unmatched experience. The large crowds that throng to this theme park are a testament to it’s quality Hong Kong Disneyland is the newest addition to Walt Disney’s global franchise of theme parks; however what makes this theme park different from others that were put up all over the world is the distinct Chinese ambience that it exudes. When planning the theme park in Hong Kong project executives were aware of the cultural issues that faced the Disneyland in Paris, therefore great pains were taken to integrate the theme park with Chinese culture, Feng Shui consultants were brought in to assist with the design and incense was burned to bless the buildings that were completed. Officially opened in 2005, the park was slated to attract up to six million visitors per year. The official name for the project was Hong Kong Disneyland Resort which consists of a Disneyland theme park, two Disney themed hotels and a host of dining and entertainment options. The park was built on reclaimed land at the north eastern tip of Lantau Island near Penny’s Bay. The environmental furor that was created surrounding the land reclamation and later on the decision to serve shark fin soup tarnished the image of the resort slightly but now with those teething problems behind it, HK Disneyland has become a premier tourist attraction. Upon entering the theme park you would first be in the "Main Street, USA" theme park area. You will be surrounded by dim gas lamps and paddy wagons passing by. Antique taxicabs, Disneyland Railroad and the City Hall transports you back to America of the early 20th century. With the image of cartoon heroine, Market 2 House Bakery and Main Street Corner Cafe are also good places for you to enjoy. Lingering in Emporium and Main Street Mercantile, having a look in The Curiosity Shop and Silhouette Shop, you will surely find timeless treasures. For adventure seekers the place to go is the aptly named "Adventureland." The Jungle River Cruise will take you into the heart of the African jungle complete with hippos, cobras, elephants and orangutans. 'The Lion King' performance will keep you entertained with its colorful pageant of music and dance which is just like a classic music drama because of its consummate performers, costumes and exotic scenery. Exploring Tarzan Island and a visit to Tarzan's Treehouse reminds you of the epic Disney classic of a human child raised by gorillas. Tahitian Terrace Restaurant and River View Cafe is true tropical jungle dining experience while you can buy a jungle leaf in Professor Porter's Trading Post as a souvenir. Fantasyland brings to life the fairytale romance of Disney animations. Cinderella Carrousel, The Many Adventures of Winnie the Pooh, Sword in the Stone, Mad Hatter Tea Cups, Sleeping Beauty Castle, Dumbo the Flying Elephant and Snow White Grotto are some of the rides that are themed after popular fantasy cartoons. Leave the fairytales and their old world charm behind and step into Tomorrowland. Scream away in Space Mountain, an exciting roller coaster ride and in Buzz Lightyear Astro Blasters, you can fly in your space capsule and fight against the aliens with your space gun. Orbitron lets you fly above Tomorrowland and take a rest while enjoying the view. After an exhausting trip around space, take a break at Starliner Diner and Comet Cafe to enjoy some good old terrestrial cuisine. 5. Competitive Position/Advantage EXECUTIVE SUMMARY RE-ESTABLISHING HONG KONG’S COMPETITIVE ADVANTAGE BY REFOCUSING ON VALUE http://www.betterhongkong.org/pdf/6775BDCF-F0A7-4346-8948EB43A4DD8BF4.pdf An overall and sustained decline in Hong Kong’s economy has been exacerbated by the SARS crisis, which took a severe toll on many sectors of the economy already suffering the effects of recession. The objective of our effort was to help develop a view on how SARS had affected Hong Kong’s economy in both positive and negative ways and to chart a course of action for its revival. We started our effort by gathering the views of Hong Kong’s opinion leaders on the opportunities and challenges in the post-SARS economy.
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