Following recent news that The Walt Disney Company was looking to be the sole owner of Disneyland Paris, the company is now proposing to increase their ownership of Hong Kong Disneyland… although not by nearly as much. As Variety reports, Disney has offered to split the cost of the announced $1.4 billion expansion of HKDL evenly, despite the fact that Disney only holds a 47% share of the park. Additionally, Disney will waive the management fees they’re owed under their current deal for two years. If the plan is approved, Disney will then own 48% of the park instead of their current 47%, while the Hong Kong government will decrease their share from 53% to 52%.
Expansion plans for the park were announced last November, and include an upgraded castle, a Frozen land, and more Marvel attractions following the opening of the Iron Man Experience this January. However, some were critical of the plans, saying it amounted to a bad deal for Hong Kong and its taxpayers. Last financial year, Hong Kong Disneyland lost approximately $22.1 million due to a number of factors, including competition from the recently-opened Shanghai Disneyland.