Disney Invests Additional $800 Million in Shanghai Resort

BURBANK: The Walt Disney Company has reached an agreement with Shanghai Shendi Group, its joint-venture partner in China, to accelerate the expansion of Shanghai Disney Resort with an additional $800 million in funding.

The funds are to be used primarily for additional attractions, entertainment and other offerings to increase the capacity at the theme park. The idea is for the majority of these efforts to be completed in time for opening day. Shanghai Shendi Group will continue to hold 57 percent of the shares of the owner companies, while Disney will hold the remaining 43 percent.

“Since we first broke ground in Shanghai we’ve been very impressed with the growth of China’s economy, especially the rapid expansion of the middle class and the significant increase in travel and tourism,” said Robert A. Iger, the chairman and CEO of The Walt Disney Company. “Our accelerated expansion, including additional attractions and entertainment, will allow us to welcome more guests for a spectacular Disney experience on opening day.”

“Like all of our parks, Shanghai Disney Resort was designed to expand over time, and this investment allows us to bring some of those additions online earlier,” said Thomas O. Staggs, the chairman of Walt Disney Parks and Resorts. “The expansion underscores the tremendous opportunity we see in Shanghai and demonstrates our long-term commitment to and confidence in China.”