Disney has announced a major expansion of Disneyland Paris, with the operator unveiling €2bn (US$2.46bn, £1.77bn) plans which will include new areas based on its Marvel, Frozen and Star Wars IPs.
Disney chair Bob Iger announced the plans today (27 February) alongside French President Emmanuel Macron at the Palais de l'Elysée, promising multiple new attractions and live entertainment experiences for Europe’s most visited attraction.
Touted as one of the most ambitious development projects at the park since its opening in 1992, the investment is a commitment from Disney to the long-term success of the resort as its brand beacon in Europe.
"We're very excited about the future of Disneyland Paris and continue to invest in its long-term success," said Iger.
"The resort is already the leading tourist destination in Europe, and the transformative expansion we announced today will add even more of our beloved characters and unparalleled storytelling to create new lands, attractions and entertainment that further elevate the guest experience and drive new opportunities for tourism in this dynamic region."
Set to break ground in 2021, the multi-year plan will include a significant expansion of the main Disneyland park. In addition to three new themed areas, the park will also gain a new lake, which will act as a focal point for entertainment experiences, while also connecting each of the new areas with the rest of Disneyland.
The multi-billion euro plans are in addition to the already announced Marvel-themed attraction, as well as Hotel New York – The Art of Marvel, a reimagining of Disney's Hotel New York that will showcase the inspiring worlds of Iron Man, The Avengers, and Spider-Man, among others when it opens in 2020.
The plans follow a move by Disney last year to take full ownership of Disneyland Paris, which despite being Europe’s most-visited park, has struggled financially, with the company carrying out a €1bn (US$1.06bn, £852m) restructuring of its debt in 2014. In June, Disney forced a mandatory buyout to shareholders, delisting its shares from the stock exchange.
Disneyland Paris is a key part of France’s tourism sector, with the park representing 6.2 per cent of the country’s entire tourism income. Hiring more than 16,000 employees and welcoming more than 320 million visitors since opening, the resort plays a key role not only for Paris, but the entire region.
“Thank you Bob Iger for your long-term investment and very strong commitment to France,” tweeted the French president following the announcement. “Your confidence shows that France is back.”
