Orlando Blog - Orlando Vacation

Information and news updates on Orlando Florida and Central Florida tourism information. This blog will try and cover all thing Orlando - from the nightlife to the Orlando Magic to the theme parks.

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Wednesday, February 14, 2007

Disney may seek new loan for the park

As you know Walt Disney World company is the world's biggest theme park in operation, the park says Hong Kong park may need to refinance a $294 million commercial loan unless its performance improves. The Hong Kong park drew a large amount of about 5.2 million visitors in just 12 months after the park opened in September 12, 2005, fewer than the last 5.6 million forecast. Disney owns 43 percent of Hong Kong International theme parks Ltd, which also owns the facility, and receives franchise and management fees.
Hong Kong's government, which invested $2.2 billion in the project and owns 57 percent of the park. Walt Disney sees the Hong Kong park as a leading example of its effort to expand internationally, the standard reported. Disney has been hoping to use the Hong Kong to gain approval for a theme park in Shanghai