HONG KONG, November 20, 2008 - Talks are underway to significantly expand the struggling Hong Kong Disneyland theme park. But a timetable and funding are unclear.
According to the South China Morning Post in Hong Kong government and Disney are now discussing the addition of three new motto "land" at a price of approximately HK $ 5 billion (645 million U.S. dollars).
A spokesman for Hong Kong Disney Resorts, the holding company for Hong Kong Disneyland, declined to comment, saying that it is "negotiations between two private shareholders."
Expansion talks come at a pivotal moment. The Hong Kong government, which owns a 57% majority of the park, is not keen to invest more in the park, which has failed to ensure the participation goals since its September 2005 opening. But the threat posed by the economic downturn, the authorities keener to help job creation, infrastructure projects.
The park, established in September 2005, has been repeatedly criticized as too small and lacking in some of the basic food attractions of Disney theme parks elsewhere, notably "Pirates of the Caribbean" and "Haunted House". Park is currently the most important segments of "FANTASY LAND,''Tomorrowland", "Adventure Land" and "Main Street USA."
In an attempt to increase the number of visitors, the park was to lower costs, parade-style attractions, the popular Disney properties like "High School Musical."
Park's poor performance meant that Disney Corp. provided 423 million U.S. dollars of loan to replace a similar amount of debt, resulting ends.
Hong Kong Disneyland to expand
