(Bloomberg) -- The operator of Tokyo Disneyland is investing 250 billion yen ($2.3 billion) to expand the Japanese resort 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 Disneyland and DisneySea parks to include new attraction areas featuring characters from movies such as “Frozen,” according to a statement Thursday. The new areas are set to open by mid-2022, and Oriental Land said it extended its license with Disney for an additional 30 years, to 2076.
Tokyo Disneyland opened in April 1983, becoming the first Disney park built outside the U.S., while the adjoining DisneySea opened 18 years later. Disney is continuing to expand its parks in Asia. Earlier this year, it opened the first expansion, Toy Story Land, to its two-year-old Shanghai resort, and is in the middle of a $1.4 billion upgrade of its Hong Kong resort, which will include “Frozen” and Marvel-themed lands.
To contact the reporters on this story: Lisa Du in Tokyo at ldu31@bloomberg.net;Maiko Takahashi in Tokyo at mtakahashi61@bloomberg.net
To contact the editors responsible for this story: K. Oanh Ha at oha3@bloomberg.net, Jeff Sutherland
©2018 Bloomberg L.P.
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