On June 14th, Oriental Land Group (OLC)--the operating group of Tokyo Disney--announced that it will invest 250 billion yen in the expansion of Disneyland Ocean Park, expanding the existing park area by 30%, and will begin construction in 2022.
The newly built area will serve as the eighth theme park of the Disney Sea Paradise, and the theme will be the Disney Fantasy World guided by the Fountain of Magic. Among them, there are 3 thematic areas including the popular animation "Ice", "Magical Romance" and "Peter Pan"; In 3 theme park areas, 4 amusement items and 3 thematic restaurants will be set up. And there will be one store and a Disney-themed luxury hotel with 475 rooms.
The three theme area (the Tokyo Resort located in Urayasu, Chiba Prefecture, Tokyo Disneyland opened in 1983 and Disneyland Marineland opened in 2001) covers a total area of one million square meters.
Tokyo Disney is the only Disneyland in the world that is not directly owned by Disney. It is an authorized business model: Oriental Land, Japan, bears all construction and operating expenses, and Disney has authorized its image and park design support. Every year, Tokyo Disney distributes 10% of ticket sales revenue and 5% of its food and food sales revenue to Disney as a copyright fee.
On the basis of the new expansion project, the contract expiration date between Oriental Land and the United States Disney Corporation was further extended from 2046 to 2076.
The relatively independent business model gave Oriental Land a certain degree of freedom in the development and operation of its products. Tokyo Disney also became one of the most profitable Disney parks in the world with a wide range of local derivatives and seasonal activities.
The expansion plan is inevitable: On the one hand, Japan’s overseas tourists are increasing. Tokyo Disney often faces the problem of overcrowding and long team shooting. The 2020 Tokyo Olympics will inevitably bring more follow-up passenger flow; on the other hand, the surrounding Hong Kong Disneyland and Shanghai Disneyland, which opened in 2016, are all being expanded. Naturally, Tokyo cannot fall behind. In addition, Tokyo Disneyland has seen a slight decline year after year since 2015 when the number of people entering the park reached 31 million. To increase the number of repeat admissions and attract more new tourists, the expansion is imminent.
Tokyo Disney Resort announced the first wave of expansion plans at the end of November last year. OLC said it will start a one-year parking lot reconstruction program starting in 2019 and transform the current flat parking lot into a 1.3-fold solid parking lot to alleviate the congestion in the park.
In addition, Tokyo Disneyland will add beauty and beasts, super sports team theme rides. According to Oriental Land, fares are currently being negotiated and they may face price increases in the future.
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