wyer 52). The firm also provides management services for Euro Disneyland.
Euro Disneyland is a US$3.7 billion theme park located outside of Paris (Reina 31-32). The entertainment enterprise was patterned after the Walt Disney Company's successful theme parks in the United States.
The Walt Disney Company paid US$160 million into Euro Disney SCA for its 49 percent equity share of the venture (Toy and Dwyer 52). The public stock offering for the remainder of the equity position in Euro Disney SCA raised US$167 million. A consortium of 60 banks lent Euro Disney US$3.4 billion to complete the theme park.
Factors Underlying Euro Disneyland Problems
One of the major problems for Euro Disneyland was the assumption by The Walt Disney Company and other investors that American popular culture could simply be transported lock, stock, and barrel to France with non diminution of public interest and support (Toy 32). From the very beginning, the French public threw cold water on this presumption (Toy 38).
A second major problem from the very beginning of the Euro Disney venture was an assumption that the major task was the construction of the facilities on time and within budget, and that the Disney reputation would take care of marketing (Creating 91). The construction goals were attained. The marketing and profitability goals remain out of reach (Swort 1788).
Low attendance levels that were well below the projected break-even point have characterized the operation of Euro Disneyland since the theme park's opening (Bertagnoli, Chaudhry, Weinstein, Stephenson, Cheney, Straus, and McCarthy 36-49). The French in particular have stayed away in droves, while attendance from other European countries has remained lackluster (Gubernick 42-43).
Another major problem for the Euro Disney venture has been the American style of management of the enterprise (Sasseen 26-27). As a consequence of this management style, the venture wa...