Home GRASP GRASP/Japan Oriental Land plans $2.3 billion expansion for Tokyo DisneySea

Oriental Land plans $2.3 billion expansion for Tokyo DisneySea

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The operator of Tokyo DisneySea is investing ¥250 billion ($2.3 billion) in its biggest expansion in almost two decades as Walt Disney Co. continues to upg
The operator of Tokyo DisneySea is investing ¥250 billion ($2.3 billion) in its biggest expansion in almost two decades as Walt Disney Co. continues to upgrade its theme parks in Asia.
Oriental Land Co., which is licensed to operate the Tokyo resort, will expand the DisneySea park to include a hotel and new areas based on movies such as “Frozen” and “Peter Pan,” according to a statement Thursday.
The investment is in addition to a previously announced upgrade to DisneySea and the Disneyland park budgeted at about ¥100 billion. Oriental Land said it extended its license with Disney for an additional 30 years, to 2076.
The new areas are set to open by mid-2022 and will add ¥50 billion in annual revenue, according to Kyoichiro Uenishi, chief operating officer of Oriental Land. Uenishi said it may consider raising ticket prices if there is a chance.

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