Word: disneying
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That's the mission of Disney's California Adventure, its newest theme park, which opened last week in Anaheim, across the street from the original Disneyland. Theme parks are something Disney has always done well. Last year the parks accounted for about 27% of the company's $25.4 billion in sales and nearly 50% of its $3.2 billion in operating profits. In the company's most recent quarter, "once again, parks and resorts proved to be an extraordinary driver of higher earnings," noted ceo Michael Eisner. The new 55-acre California Adventure is part of a $1.4 billion expansion that...
California Adventure will advance Disney's latest theme-park strategy, which seeks to offer as much for parents as for kids. Inside the park, kids rule, once Mom or Dad pops for the $43 admission: there's a giant Ferris wheel, a soggy river-rafting ride and the usual characters. The theme is intended to capture the feeling of touring the Golden State, from the Napa Valley to Yosemite to Hollywood...
Outside lies Downtown Disney, an admission-free, quarter-mile-long shopping and dining esplanade for the adults. The mall, which has already proved popular in Florida's Disney World, was designed to attract not only theme-park guests but also local residents and conventiongoers from the newly renovated Anaheim Convention Center nearby. It will offer such grownup attractions as live entertainment at the House of Blues and the world's most elaborate sports bar at ESPN Zone. You will be able to get an adult beverage, both there and in one of the gourmet restaurants in the new park. (What...
...idea, of course, is to prevent the customers from leaving until Mickey has all their money. Disneyland was designed to be a one-day romp for most guests; Disney's California Adventure is a multiple-day, capital-R Resort. "We really transformed Orlando into a resort-vacation destination," says Paul Pressler, chairman of Walt Disney Parks and Resorts. "And now our second park here in Southern California is striving to do the same thing...
...Disney, the addition of a new, competing park alongside Disneyland represents a major gamble with its original 45-year-old property. Yet such parks generate cash far more reliably than, say, the movie business. Which is why Disney is also expanding at Tokyo's DisneySea this year, adding a second gate in Paris next year and drawing up plans for a new Hong Kong Disneyland...