A full decade after the Walt Disney Company’s musical animation frozen What became a worldwide box-office phenomenon – and an enduring soundtrack to the lives of parents with young children everywhere – the first theme park attraction dedicated to the film is set to open its doors at the Hong Kong Disneyland Resort on Monday.
The late acquisition of internationally beloved IP is expected to drive further profits for Disney’s sleek, newly named Experiences Group, which includes its theme parks, cruise lines and consumer products businesses, which posted operating income last quarter. An increase of 31 percent was registered.
The launch also underscores the Asia-Pacific region’s role in Disney’s recently unveiled plans to “turbocharging growth in our parks and experiences business,” as CEO Bob Iger said earlier this month at the company’s fourth Kept in the quarterly earnings call. In September, Disney said it would spend $60 billion over the next 10 years to expand its parks and cruise lines – nearly double its investment in the region over the past decade.
Of Disney’s portfolio of six theme park resorts around the world, Hong Kong Disneyland is the one that perhaps needs the most boost. The park, which is jointly owned by Disney and the Hong Kong government (with a slight majority), has reported losses for the past eight financial years and made a profit in only three years since its opening in 2005. The past few years have seen a number of significant headwinds, including civil activity during Hong Kong’s 2019–2020 pro-democracy protests and a sharp decline in mainland Chinese tourism, followed by the city’s lengthy border control policies during the pandemic.
,[World of Frozen] “This is going to completely transform the footprint of this theme park, bringing completely new fans and families to the franchise,” Disney Experience president Josh D’Amaro said in an interview Thursday. Hollywood Reporter.
The executive said he had visited the new frozen Early Day Attractions with Filmmaker Jennifer Lee, Co-Producer and Co-Director frozen Movies. “To see him come to this place and be completely immersed and overwhelmed by what he saw – it’s a huge thing,” he said.
Oken’s Sliding Sled Ride in the World of Frozen at Disneyland Hong Kong. Courtesy of The Walt Disney Company
D’Amaro said Disney chose Hong Kong as the first global location frozen Land because it “knew guests in Asia and Hong Kong were demanding it” and “we saw a big opportunity to do it right here.”
Hong Kong’s World of Frozen brings to life many iconic scenes from the films, such as North Mountain, Elsa’s Ice Palace, Arendelle Castle, the Friendship Fountain and the clock tower where Anna dances with Prince Hans. The area also features three major attractions: Frozen Ever After, a family-friendly boat ride that immerses guests in the world of the music and movies; Wandering Oaken’s Sliding Sleigh, a high-speed rollercoaster through the landscapes of Arendelle; and Playhouse in the Woods, a high-tech interactive show featuring Anna, Elsa and Olaf.
Hong Kong Disneyland’s business has started to improve ahead of the opening of the new attraction next week. In its quarterly earnings report on November 8, the company said revenue from the international arm of its Experiences division rose more than 100 percent to $441 million, with higher attendance at its Shanghai and Hong Kong parks and higher ticket prices offsetting its weak results. Made up the compensation. Home parks in California and Florida.
“As the borders have opened up, flights have been coming in and visas have become easier to get, we’ve seen really good growth here,” D’Amaro said from Hong Kong. “With the addition of this new land, it will open people’s eyes to the fact that this is now a place for them. So we have a lot of expectations here.”
Disney had already announced several significant expansions of its parks and cruise lines overseas before revealing plans to spend $60 billion for the coming decade. Long-planned launch to follow World of Frozen opening in Hong Kong zootopia-Themed area at Shanghai Disney Resort in December, a Frozen Kingdom attraction and another at Tokyo Disney Resort in spring 2024 frozen-Themed Kingdom of Arendelle area at Disneyland Paris in 2024/2025. Disney launched cruise lines in Australia and New Zealand for the first time in October, and thanks to the popularity of the first sailings, the company recently unveiled expanded voyages to both countries for 2024 and 2025. Disney Cruise Lines port is also planned in Singapore in 2025 – the first in Southeast Asia. Throughout the most recent fiscal year, Disney invested $5 billion in its parks, resorts and cruises.
Arendelle Castle in the World of Frozen at Disneyland Hong Kong. Courtesy of The Walt Disney Company
D’Amaro declined to say how much of the upcoming $60 billion spending is earmarked for domestic versus more international projects in Asia.
“All sites are performing exceptionally well today,” he said, referring to Disney’s parks in Hong Kong, Shanghai and Tokyo. “We will continue to invest there, and I think it can be expanded with other experiences outside of these three theme parks.”
Disney has also revealed massive domestic expansion goals, but those ambitions may ultimately depend on forces beyond its control. The company wants to redevelop land next to the original Disneyland in California, but doing so would require the city of Anaheim to change a policy that restricts where such attractions can be built. The city is scheduled to vote on proposed changes to Disney’s rules in late 2024. Disney previously said it would spend $17 billion to expand Walt Disney World in Florida over the next decade, but those goals are in limbo amid the company’s high-profile legal battle. Dispute with state governor Ron DeSantis.