News Broadcasting
Euro Disney’s losses mount with less visitors
PARIS: The future of Disney’s theme park in France Euro Disney is in doubt. The amusement attraction has reported 700,000 fewer visitors in 2002-2003 than the previous year with the result that losses leapt by 69.2 per cent to 56 million Euros.
Reports indicate that in August the media conglomerate had warned that it would not be able to pay off some of the outstandings due to a sizeable drop in the number of visitors. The theme park has been hit by an unfavourable economic environment in Europe along with the depressed travel and tourism sector in the continent.
However group chairman Andre Lacroix is said to be optimistic about the group’s future. This is because the company has started restructuring its debt. It has also got a slight reprieve from creditors. The group is also said to be looking at revamping its marketing plan in order to suit consumer behaviour.
Sales of Euro Disney fell as expected to 23.6 million euros from 27.3 million euros in the previous year.
