Euro Disney business case study

Docs en anglais | 14 pages | 13-06-2008 | Format : | Note : Non noté |

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Résumé

Disneyland Park is one of the theme parks belonging to the Walt Disney Company. It is settled in Marne-la-Vallée, near Paris (France). The theme park opened on April 12th 1992 as Euro Disneyland. In 1994, it was renamed Disneyland Paris until 2002. It is now known as Disneyland Resort Paris. A few years ago, its creation had given rise to a general enthusiasm and to many expectations among the French people affected by a period of unemployment. There is an anecdote illustrating the importance of the project: Disneyland Park's CEO was asking by a journalist whether the building of the park would be late or not because the opening was planned on April 12th 1992 at 9 a.m. By smiling, he answered that the opening would be slightly late and that it would take place on the same date but at 9.01 a.m. The amount of the building operations reached 45 billion francs and the park presently covers more than 60 hectares.

Nevertheless, the park became the perfect symbol of the American Management, leading to difficut working conditions, the lack of job security, low wages and no dialogue between employers and trade unions. So, in 1998, the park was affected by an important strike.

Moreover, the successive changes in the name of the park emphasize the difficulty of the park to find its own identity and attendance. In fact, the theme park suffered from an attendance which was not in accordance with the figures expected. Despite the slow recovery in the number of visitors, the huge debts accumulated by the group were threatening for the park's durability. However, the financial strength of the parent company succeeded in obtaining loans from the banks.
Nowadays, the theme park is considered as the first tourist destination in Europe averaging 12 million visitors a year.

The following report aims at analyzing the economic situation of Euro Disney. We will present what are the sources of business and the reasons why the park suffered from difficulties during its early years. Then, we will show the benefits brought by the park's activities to both employees and customers. Finally, we will deal with the estimated returns and cash flows.

Table of contents:

Introduction

I) The sources of business

II) The reasons for Euro Disney's failure

III) Euro Disney as a source of benefits

IV) Euro Disney's financial data

Conclusion

References

Appendix

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