Case Brief: Disneyland 1.) How accurate was the projection of visitors to the park? Estimated attendance: 2005 – 5.6 million Actual attendance: Sept. 12‚ 2005 (opening day)-5.2 million In its first year‚ Disneyland in Hong Kong were 400‚000 short of its target of 5.6 million projected visitors Estimated attendance: 2008: 7.1 million Actual attendance: 8.2 million In order to attract more visitors‚ the park has announced to add four new attractions‚ apart from the already-announced
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Hong Kong Disneyland had mechanisms in place to adapt to local Hong Kong culture‚ yet these means appeared to be partially ineffective. Why? Despite hard efforts of management‚ during 1 year there were some difficulties Chinese Disneyland faced to. One of the biggest problems was the Lunar New Year Holiday. It took place when administration of park didn’t take into account some particularities of Chinese people consumption habits. This fiasco led to many complaints‚ ticket returns and‚ importantly
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1.0 Introduction Hong Kong is one of the most important tourism destinations in the Pacific Asia region for its unique landscape and shopping convenience. According to statistics‚ a total number of 41921310 people visited Hong Kong in 2011‚ that is 16.4% more compared to 2010 (Hong Kong Tourism Board 2012).Total tourism expenditure was 263142.71 million HK dollars and shopping accounts for most of them because it is the main purpose for individual visitors (Hong Kong Tourism Board 2012). Therefore
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“Hong Kong Disneyland” 1. The situation The case introduces the Disney Parks that were opened outsides of the United States (Tokyo‚ Paris). It reveals the reasons why it is successful in Japan and failing in French. Then it focuses on the park which was opened in Hong Kong. Managers tried their best to avoid the mistakes they made in French and thought about culture differences as many as possible. However‚ it still produced some negative effects‚ such as The Lunar New Year Holiday Fiasco‚ during
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Assignment Background IKEA is a Swedish company founded in 1943. It is an international retail chain store with 160 stores located in 30 countries. IKEA’s business philosophy is to offer a wide range of home furnishings with good design and function at prices that as many people as possible will be able to afford. The IKEA store in Hong Kong is one of the franchise stores in the Asia Pacific region‚ having started business in 1975. Since then‚ IKEA has become the leader in the home furnishing
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Hong Kong Disney: the good and the bad Introduction:Disney Disney was founded on October 16‚ 1923‚ by Walt and Roy Disney as the Disney Brothers Cartoon Studio‚ and established itself as a leader in the American animation industry before diversifying into live-action film production‚ television‚ travel‚ and theme parks (The Walt Disney Company‚ 2012). Disney went on to construct theme parks in California‚ Florida‚ Tokyo‚ Paris‚ and Hong Kong. Today Disney is the largest media conglomerate of the
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Japan. This case explores Disney’s efforts to open its third park outside the United States; Hong Kong Disneyland. The case outlines the experiences of Tokyo and Paris Disneylands. The case provides details of the ups and downs with the opening of Hong Kong Disneyland. including the finances of the deal‚ and how the operations‚ human resources management and marketing were incorporated to complement the Chinese cultural environment. The case also discusses the tourism industry in Hong Kong and some
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Hong Kong Tourism development is very important in Hong Kong. It has benefitted Hong Kong’s economy and employment throughout the years. Tourism currently rates second among the four key industries in Hong Kong. It contributes to the employment of other industries like retail trade‚ food and beverage‚ accommodation and transportation. Currently‚ Hong Kong Tourism Commission‚ which is a Government department‚ plays a part in supporting the development of new attractions and events. The Hong Kong
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1. How would you value the Hong Kong Disneyland project from the perspective of Walt Disney? The valuation of Hong Kong Disneyland from the perspective of Walt Disney is done by taking the following assumptions: Cost of Capital = 9.52% Cost of Government Debt = 8.19% Cost of Commercial Bank Debt = 11.36% Cost of Equity = 12.3% (10 year average) Inflation = 7.31% (10 year average) Gross margin = 37% Operating Cost = 22% Variable Management Fee = 5% With the above assumptions the FCF
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The tourism in Hong Kong Hong has a lot of tourism‚ and a lot of places t go and vist but these 10 are the most famous and favorites. * Avenue of stars Stunning views of the harbour tower above you‚ while the names of Hong Kong’s movie icons lie beneath your feet * The peak Out-of-this-world view of skyscrapers‚ the glittering harbour and the green hills of the distant New Territories * Ladies market About a klick of street-market bustle and clothing‚ accessories and souvenir bargains
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