Walt Disney Co.s Shanghai theme park attracted four million visitors in its first four months and will be close to breaking even in 2017, its first full year of operation, company executives said Thursday.
More than half of the new parks guests are coming from outside the Shanghai area, a number that exceeded the companys expectations, Disney Chief Executive Officer Bob Iger said on a conference call with analysts.
This has become a national tourist destination, he said later in an interview with Bloomberg TV.
The new park, which opened in June at a cost of $5.5 billion, is Disneys largest foreign investment. Attendance through the first four months included peak summer travel.
Some of you may infer from this early performance that we could achieve 10 million in attendance in the parks first year, a number we would be thrilled with, Iger said on the call. But were not providing any annual guidance at this point.
Guests are staying longer than Disney expected, according to Iger, who visited Shanghai last week and said he was surprised by the number of young kids at the park on a weekday.
Disney this week announced an expansion at the park, a Toy Story-themed land with three attractions and a character meet-and-greet area. Iger said Disney characters, even new ones such as those from the 2016 film Zootopia, are being well received in China.
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