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  • News Third hotel officially announced



    HKDL announced third hotel. Investment is $4.26 billion, it will have 750 rooms and scheduled to open in 2017. The new hotel will be located next to Disney Hollywood Hotel. When it is completed the resort will have about 1,750 rooms.

    Both WDC and HK govt will invest in the hotel. $1.7 billion will be invested by WDC, $0.6 billion from HKDL's operating cash reserves, and both HK govt and WDC will provide new loans for the remaining costs.

    As WDC will invest $1.7 billion, HK govt will also convert its $1.7 billion loan into equity so it can retain its shareholding percentage.

    HKDL will owe both WDC and HK govt $1.1 billion after this deal is done. It will start repaying the loans from 2022.

    No concept arts or theme details yet. I expect these to come very soon. Hk govt won't lend money without knowing what exactly is being built.

    http://hk.apple.nextmedia.com/realti...40217/52196712

    Apple Daily quoted Andrew Kam, the third hotel will have an adventure and exotic theme. It will be a high-end hotel. He thinks with the Zhuhai-Macau-HK bridge opening in 2016, the hotel will do great business.
    Last edited by Asa; 02-17-2014, 12:52 AM.
    Jul 1992: Disneyland Paris
    Apr 2006: Hong Kong Disneyland
    Jul 2010: Disneyland and Disney's California Adventure
    Mar 2011: Hong Kong Disneyland
    Jul 2013: Tokyo Disneyland and Tokyo DisneySea
    Sep 2013: Hong Kong Disneyland
    Jul 2014: Disney California Adventure

  • #2
    Re: Third hotel officially announced

    Now updated with official maps and art:



    For something at HKDL, it looks quite spectacular might I add.

    Comment


    • #3
      Re: Third hotel officially announced

      The hotel looks awesome!
      These are some of my favorite TRs I have posted

      DL 55th BDAY trip report
      My company had a special night at the park
      WdW trip report with WWoHP
      NYE 2011 trip report
      Mice Chat 7th anniversary
      Leap year 24 hour report
      New DCA trip report
      NYE 2012
      HKDL trip report

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      • #4
        Re: Third hotel officially announced

        ORGOCH: Sure beats the Shady Rest Hotel from Petticoat Junction!

        Comment


        • #5
          Re: Third hotel officially announced

          Looks good and good variety to fit the region and complement the other two hotels.

          4.6B is in Hong Kong Dollars right? US cost would be something like $600,000,000 if it's in HKD.
          Be Cool Stay in School!
          Next year I'm trying for a summer internship at Stark Industries.

          Comment


          • #6
            Re: Third hotel officially announced

            The above hotel proposal still has to go through LegCo approval next Monday. Although I believe there will be little opposition, the political environment is hard to predict right now. Some legislators are also questioning why HK govt insists on maintaining its 52% shareholding.

            Apple Daily obviously wants to make a great deal out of it, saying HK govt never made a penny from the deal while WDC has been taking management and copyright fees. But of course they conveniently take out the fact that WDC is investing HK$1.7 billion. Apple Daily makes me sick.
            Jul 1992: Disneyland Paris
            Apr 2006: Hong Kong Disneyland
            Jul 2010: Disneyland and Disney's California Adventure
            Mar 2011: Hong Kong Disneyland
            Jul 2013: Tokyo Disneyland and Tokyo DisneySea
            Sep 2013: Hong Kong Disneyland
            Jul 2014: Disney California Adventure

            Comment


            • #7
              Re: Third hotel officially announced

              ORWEN: I know what you mean Asa, duckling. A daily apple is what almost killed my friend, Snow White!

              Comment


              • #8
                Re: Third hotel officially announced

                Third hotel next big Disney thrill - The Standard

                Third hotel next big Disney thrill


                Beatrice Siu


                Tuesday, February 18, 2014


                Hong Kong Disneyland will have its third hotel by 2017.

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                The HK$4.263 billion project, with an HK$800 million loan from the government, will provide 750 new rooms and increase the theme park's hotel capacity to 1,750 rooms.


                The plan, announced together with the business results for 2013, has been submitted to the Legislative Council for approval.


                Managing director Andrew Kam Min- ho said the hotel is expected to be finished by early 2017 to meet the expected demand following the 2016 completion of the Hong Kong-Zhuhai-Macau Bridge.


                He said last year's occupancy rate was 94 percent, a 2 percentage point rise from the previous year.


                The new resort will be larger than Disneyland Hotel and Hollywood Hotel, and will occupy 6.4 hectares with a floor area of about 50,000 square meters.


                Located between the existing hotels, the resort will have an exotic rainforest and adventure theme with a pool and three restaurants.


                In addition to the loan, the government - the biggest stakeholder of Disneyland with a 52 percent share - will have to convert a HK$1.7 billion loan out of its existing HK$2 billion loan into equity.

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                Kam said profit more than doubled to HK$242 million for the fiscal year October 2012 to September 2013. He added that both stakeholders agreed not to distribute dividends and retain the profit for future development.


                "Our stakeholders took a view for long-term development," Kam said. "In fact we do have space for developing hotel and entertainment facilities in future."


                He said there is no pressure to increase fees.


                The park had a turnover of HK$4.89 billion, an increase of 15 percent compared with the previous year.


                Park attendance was 7.4 million, an increase of 10 percent.


                Records showed 33 percent of visitors were from Hong Kong, 47 percent from the mainland and 20 percent from overseas. The number of mainland visitors increased by 2 percentage points.


                "Asia is experiencing strong economic growth," Kam said. "Disposable income around Asia is improving and that has stimulated the tourism industry within Asia.


                "I don't have a crystal ball, but as long as disposable income keeps increasing, the demand for outbound travel certainly will continue to grow in the mainland and the rest of the region."
                Jul 1992: Disneyland Paris
                Apr 2006: Hong Kong Disneyland
                Jul 2010: Disneyland and Disney's California Adventure
                Mar 2011: Hong Kong Disneyland
                Jul 2013: Tokyo Disneyland and Tokyo DisneySea
                Sep 2013: Hong Kong Disneyland
                Jul 2014: Disney California Adventure

                Comment


                • #9
                  Re: Third hotel officially announced

                  Hong Kong Disneyland enjoys fourth record-breaking year

                  From the mouth of the mouse itself.
                  Jul 1992: Disneyland Paris
                  Apr 2006: Hong Kong Disneyland
                  Jul 2010: Disneyland and Disney's California Adventure
                  Mar 2011: Hong Kong Disneyland
                  Jul 2013: Tokyo Disneyland and Tokyo DisneySea
                  Sep 2013: Hong Kong Disneyland
                  Jul 2014: Disney California Adventure

                  Comment


                  • #10
                    Re: Third hotel officially announced

                    ORGOCH: Tell that Kam fella he's welcome ta borrow our crystal ball if he wants, seein' as how he don't have one a his own. He has ta make sure he gives it back though!

                    Comment


                    • #11
                      Re: Third hotel officially announced

                      Momentum at Hong Kong Disneyland Continues with a Record-Breaking Year and New Experiences Planned for the Future « Disney Parks Blog

                      Disney Parks and Blog talk about the upcoming developments at HKDL.

                      I hope the new hotel will feature the Society of Explorers and Adventurers found at Tower of Terror (TDS) and Mystic Point (HKDL).

                      The blog is saying also that Iron Man will be fighting Alien Invaders, instead of HYDRA robots as speculated by Screamscape.
                      Jul 1992: Disneyland Paris
                      Apr 2006: Hong Kong Disneyland
                      Jul 2010: Disneyland and Disney's California Adventure
                      Mar 2011: Hong Kong Disneyland
                      Jul 2013: Tokyo Disneyland and Tokyo DisneySea
                      Sep 2013: Hong Kong Disneyland
                      Jul 2014: Disney California Adventure

                      Comment


                      • #12
                        Re: Third hotel officially announced

                        Wow that hotel looks great. Nice to see the resort get a unique hotel as well.



                        Originally posted by Asa View Post
                        Some legislators are also questioning why HK govt insists on maintaining its 52% shareholding.
                        I'm curious, if the LegCo decided to "sell" how would it work? I presume that Disney would be prevented from just buying it up - didn't they have to have a local partner for local legal reasons?

                        IMO they'd be crazy to sell, it sounds like HKDLR is starting to stand on its feet.. the only thing they need to do is green light more things and not stand in the way as much.
                        sigpic

                        "We're not trying to entertain the critics ... I'll take my chances with the public." -
                        Walt Disney

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                        • #13
                          Re: Third hotel officially announced

                          Originally posted by Hathaway Browne View Post
                          IMO they'd be crazy to sell, it sounds like HKDLR is starting to stand on its feet.. the only thing they need to do is green light more things and not stand in the way as much.
                          I think if Disney owned it all and was free to develop it as they see fit, another hotel would quickly pop up and the second gate would be being built. It would be quickly made into a destination rather than HK side trip.
                          Be Cool Stay in School!
                          Next year I'm trying for a summer internship at Stark Industries.

                          Comment


                          • #14
                            Re: Third hotel officially announced

                            Actually if compared to Ocean Park's Marriott Ocean Hotel, Disney's third hotel's construction costs is slightly higher, but reasonable, probably due to the additional costs of 1 more story, 255 more rooms and the need to add theme details.

                            Hong Kong Ocean Park Marriott Hotel (opening 2017)
                            Construction costs $2.5 billion
                            495 rooms
                            6 story

                            HKDL's unnamed third hotel (opening 2017)
                            Construction costs $4.26 billion
                            750 rooms
                            7 story

                            Ocean Park hotel info: Lai Sun scores with $1.6b bid for Ocean Park hotel - The Standard
                            Jul 1992: Disneyland Paris
                            Apr 2006: Hong Kong Disneyland
                            Jul 2010: Disneyland and Disney's California Adventure
                            Mar 2011: Hong Kong Disneyland
                            Jul 2013: Tokyo Disneyland and Tokyo DisneySea
                            Sep 2013: Hong Kong Disneyland
                            Jul 2014: Disney California Adventure

                            Comment


                            • #15
                              Re: Third hotel officially announced

                              Originally posted by Hathaway Browne View Post
                              I'm curious, if the LegCo decided to "sell" how would it work? I presume that Disney would be prevented from just buying it up - didn't they have to have a local partner for local legal reasons?

                              IMO they'd be crazy to sell, it sounds like HKDLR is starting to stand on its feet.. the only thing they need to do is green light more things and not stand in the way as much.
                              There is no need for a local partner. That regulation only applies for foreign businesses on the mainland.

                              In 2009, legislators also asked the same question, why does the govt remain a shareholder? Back then the govt said even if they wanted to sell, no one would buy their shares.

                              Now it would be quite easy to sell, but to sell now is crazy, as you said. The legislators just do not think it is worth investing further and further. This is the third time the govt invests in it.

                              But I think once the third hotel opens, the park will begin to make serious money. I would certainly buy some shares now if offered the opportunity.
                              Jul 1992: Disneyland Paris
                              Apr 2006: Hong Kong Disneyland
                              Jul 2010: Disneyland and Disney's California Adventure
                              Mar 2011: Hong Kong Disneyland
                              Jul 2013: Tokyo Disneyland and Tokyo DisneySea
                              Sep 2013: Hong Kong Disneyland
                              Jul 2014: Disney California Adventure

                              Comment

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