Amidst a landslide of debt accrued over the years, Paris' Euro Disney theme park has revealed that it is in need of €1 billion to finance a revitalization of the theme park, in hopes of increasing park patronage in coming years.
The bail-out will be funded primarily by parent company, Walt Disney Co. with a portion also coming from shareholders, and Saudi Arabian Prince, Alwaleed bin Talal.
In recent years the park has been fighting to remain above water financially, amid the economic struggles plaguing Europe as a whole, with annual attendance down by nearly a million visitors. Given Euro Disney's already high levels of debt, the park has been unable to re-invest into ongoing maintenance, and further proliferation of rides and attractions.
It is important to recognize the impact that continued development has on the park's future, as the introduction of newer rides, updated equipment, and modern amenities are a necessity in attracting repeat customers. Currently, Euro Disney is frequented mostly by the French (the park is in France, after all), but Euro Disney is hoping to attract an influx of international vacationers with its up and coming, bail-out-funded, upgrades.
Euro Disney runs two theme parks including Disneyland Paris, and the adjacent Walt Disney Studios Park, as well as seven surrounding hotels. Part of the €1 billion cash injection will go to designing and building a new "leisure complex" named Villages Nature, as part of a partnership with French apartment rental company, Pierre et Vacances.
Euro Disney is Europe's most-visited tourist attraction, with a 2013 annual attendance of 14.9 million visitors - a number of annual visitors that rivals the Eiffel Tower and Louvre combined - and hopefully after receiving the money it needs, the park will be able to flourish once-more.
Next time you find yourself exploring Paris, consider a day-trip with your car rental from Auto Europe. A mere 20 miles outside of town Disneyland Paris awaits and with your help the park will be back on the road to financial success, boasting a host of new attractions, rides, and restaurant offerings. A visit to Euro Disney is like two classic American vacations at once, discovering the magic of European travel, and taking the family to Disneyland - what could be better?