Euro Disney mulls resort villages
May 20, 2003 - The Hollywood Reporter
PARIS—French theme park operator Euro Disney S.A. and French developer Groupe Pierre & Vacances are forming an exploratory committee around the possibility of building a series of resort “villages” valued at approximately €1 billion ($1.2 million) adjacent to Disneyland Paris, the two companies announced Monday at a press conference.
“Disneyland Paris is in the process of becoming a destination resort,” said Stephanie Cocquet, deputy manager of development for Euro Disney.
“Before, people were staying for two days and one night. Now it’s up to about three days and two nights. This development will help grow that number,” said Cocquet, who envisages tourists staying for up to a week. Cocquet also suggested that tourists will use the resort as a base to explore Paris and the region around it.
With four themed “nature villages” (water, earth, sport and forest), the 50-50 venture would add approximately 5,000 rooms to the 5,800 currently available near the complex, along with an estimated 4,000 direct and 10,000 indirect hires.
The announcement comes on the heels of Euro Disney’s April 29 report revealing greater-than-expected first-half losses of more than $90 million, which cited low occupancy as one of the reasons for the drop (HR 4/30). In late March, Euro Disney also named a new president and CEO, Andre Lacroix, who will officially replace Jay Rasulo in July.