Hong Kong Disneyland’s Multi-Year Expansion Receives Funding ApprovalPublished: May 3, 2017 / Last Updated: May 3, 2017 / By: Arvid Bux
A $1.4 billion, multi-year expansion of Hong Kong Disneyland Resort received approval from the Legislative Council of the Hong Kong Special Administrative Region today for the Hong Kong Government’s share of investment, underscoring a commitment to the long-term success of the resort and further positioning Hong Kong as a premier tourist destination in the region.
“We welcome the support of the Legislative Council and we can’t wait to get started on our ambitious plans to bring to life the very best characters and stories The Walt Disney Company has to offer,” said Bob Chapek, chairman of Walt Disney Parks and Resorts.
“We will work with the Hong Kong Government to give guests new reasons to visit Hong Kong, one of the most popular tourist destinations in the world, leveraging on some of the most popular stories of the Disney brand.”
New themed areas, attractions and entertainment will launch almost every year from 2018 through 2023. The new expansion plans will continue to broaden the appeal of the resort as it attracts a diverse audience of all ages. Some of the highlights of the experiences coming soon to Hong Kong Disneyland include:
- A transformed Castle with new daytime and nighttime spectaculars and entertainment experiences;
- An all-new Frozen-themed area where guests can experience the characters and stories from this beloved film in ways never before at a Disney park;
- A dedicated Marvel-themed area featuring exciting new Marvel attractions and entertainment from one of the most popular Super Hero franchises in history; and
- A new entertainment venue, Moana’s Village Festival in Adventureland, which will feature a lively stage show.
The expansion plans follow a period of historic growth at Hong Kong Disneyland Resort. The resort recently opened Iron Man Experience, now the most popular attraction at Hong Kong Disneyland. On April 30, the new 750-room Disney Explorers Lodge resort hotel welcomed its first official guests as Hong Kong Disneyland Resort continues to grow as one of the region’s top tourist destinations.
The expansion will be funded by cash equity contributions made by the shareholders of Hong Kong Disneyland Resort– subsidiaries of The Walt Disney Company and the Hong Kong Government – on an equal basis.