disney resort hotels vietnam venture

The Walt Disney Company Vietnam Resort Hotels and Eco Tours

Marketing PlanIB 585

Culture and Business in Vietnam

Vietnam Resort HotelsAnd Eco Tours

1

Vietnam

PLANNING1. Identification of Business Opportunity 2. Analysis of International Competition 3. Assessment of Economic – Geographic Environment 4. Assessment of Social – Cultural Environment 5. Assessment of Political – Legal Environment

ORGANIZING1. Selection of Company Structure 2. Identification of Financial Sources for Business Operations3. Identification of Global Information Management 4. Identification of Human Resources Required 5. Management of Financial and Business Risks

IMPLEMENTATION1. Identification of Product and Target Market 2. Design of Global Distribution Strategy 3. Design Global Promotion Strategy 4. Selection of Pricing Strategy 5. Identification of Financial Results

2

World Tourism Organization (UNWTO) Agency of The United Nations Promotes development of responsible, sustainable

and universally accessible tourism Membership

156 Countries / 7 Territories 350 Affiliate Members

Private Sector Educational Institutions Tourism Associations Local Tourism Authorities

Regional Support Offices Africa The Americas Europe The Middle East Europe Asia and the Pacific

Osaka, Japan

HeadquartersMadrid, Spain

3

Tourist

According to the World Tourism Organization

“People who travel to and stay in places outside their usual environment for not more than one consecutive year for leisure, business and other purposes not related to the exercise of an activity remunerated from within the place visited”

4

International Ecotourism Society (TIES)Founded in 1990Non Profit, OrganizationNon Governmental OrganizationMulti-Stakeholder AssociationLargest and Oldest Eco Tourism OrganizationProvides guidelines, standards, training, technical

assistance, research and publications to foster Eco Tourism development

The International Ecotourism Society1333 H St., NW

Suite 300, East TowerWashington, DC 20005

Telephone: 202-347-9203Fax: 202-789-7279

Email: info "at" ecotourism.org

5

Eco Tourism

According to the International Ecotourism Society

“Responsible travel to natural areas that conserves the environment and improves the well-being of local people.”

Humanitarianism

6

Current President and CEO – Robert Iger

Founded by Walt & Roy Disney – Animators October 16, 1923 Animated “Shorts” Feature Length Animated Films Anthology of Animated Characters

Walt Disney – Workaholic and Family Man

Disneyland Debut – Anaheim, California (1955)

Walt Disney Dies (1966)

Disney World (Magic Kingdom) Debut – Orlando Florida (1971)EPCOT (Disneyworld) Debut – Orlando, Florida (1982)

7

Core Competencies

“Portmanteau”…Blend of two or more words….

“Imagination” and “Engineering”

Source: www.wikipedia.com

Entertainment Attractions Resort Hotels

Recreation Merchandising Restaurants

People Moving

Education

8

1983

1995

Kapolei Resort Hotel Oahu, Hawaii (2011)

Vietnam Resort Hotels

And Eco Tours

(2012)

1996

Global Footprint

1955

1992

2005

1971

9Source: www.vietnamtourism.com

Most Visited Global Attractions

Attraction Global Location

2007 Domestic and

International Visitors

(Millions)

Rank

Walt Disney World Orlando, Florida 16.6 3

Disneyland Anaheim, California

14.7 5

Tokyo DisneylandTokyo Disney Seas

Tokyo, Japan 12.9 8

Disneyland Paris Paris, France 10.6 10

Source: UNWTO 10

VNAT campaign to declare the World Heritage site of Ha Long Bay as one of the world's seven natural wonders. August 8, 2008

Connect all members of ASEAN Tourism Enable tourism partners and stakeholders in the region and the world to seek business opportunities, market expansion (January 5-12, 2009)

Manages activities relating to the development of tourism nationwide representing the State Government of Vietnam

VNAT Sponsored upgrade of the standard and quality of human resources in the tourism sector

Enable the Government and the enterprises to sustain high quality and quantity of Tourism

Vietnam Governmental Support for Tourism

MPI - government ministry which in charge of state management over planning and investments. Fund improvements in infrastructure relating to tourism development


Sapa Northeast

NorthernRegion

CentralRegion

SouthernRegion

Looks good

Boss!!


World Heritage

Site

Nearest Major City

Description UNESCO

Region

Ha Long Bay Ha Noi180 km

1969 uninhabited (humans) islands of different shapes, karst geomorphic limestone rock formations, caves, grottoes

19942000

North

HUE Court Music Hue Typical Vietnamese Royal Court music produced by many different musical instruments.

2003 Central

HUE Monuments Hue Vietnam Feudal Capital City established 1802. Perfume river, collection of ancient monuments.

1993 Central

Phong Nha Ke Bang National Park

Da Nang Large natural museum of biodiversity, many endangered species, caves, karst limestone rock formations, world’s largest underground river, forests

2003 Central

Hoi An Ancient Town

Da Nang 30 km

Fusion of Vietnamese, Japanese, Chinese cultures with many pagodas, assembly halls, wells, and worshipping houses.

1999 Central

My Son Sanctuary

Da Nang 70 km

Temple towers dedicated to Shiva (Hindu God of Shaiva tradition of Hinduism)built by Champa Kings.

1999 Central

Pan’s Scouting Report – UNESCO World Heritage Sites


Beach Region Nearest CityDo Song Beach North Haiphong

Ha Long

Sam Son Beach North Thanh Hoa

Cua Lo Beach Central Nghean

Thien Carn Beach Central Ha Tinh

Nhat Le Beach Central Quangbinh

Thuan Lan Beach Central Hue

Bai Bien Lang Co Beach Central Da Nang

Non Nuoc Beach Central Da Nang

My Khe Beach Central Quang Nai

Sa Huynh Beach Central Quang NaiBinh Dinh

Nha Trang Beach South Khanh Hoa

Mui Ne Beach South Binh Thuan

Vung Tau Beach South Vung Tau

Ba Dong Beach South Tra Vinh

Pan’s Scouting Report – Beaches


Pan’s Scouting Report – Other Attractions

Vietnam Attractions

Pagodas, Temples, Towers, Churches, Tombs

Ancient Citadels, Palaces

Museums, Memorial Sites

Rivers, Lakes, Waterfalls, Mountains, Forests, Islands, Grottoes, Deltas

Festivals, Handicraft Villages, Ancient Villages, Towns

Archaeological Sites

Markets

Garden Houses, Bird Sanctuaries

Theaters, Cultural Houses

Golf Courses, Resorts, Spas, Parks


POTENTIAL COMPETITORS(Northern Region)

Catba Water Park Resort Haiphong City along Ha Long Bay Only water park resort in Vietnam with

full facilities - waterfalls and water slides.One of the best resorts in VietnamLocated on the World Biosphere ReserveMost picturesque paradise in Vietnam.One of the best 4 Star Hotels in HaiphongAttracts visitors from across the globe

17

Catba Water Park Resort World Natural Heritage SiteOnly water park resort in

VietnamWell known name Partnered with other successful companies in

Vietnam- Zen Spa, SSI, Cabisco and Hanoi1000 Nam.

106 kilometers from Hanoi. (66 miles)Western and Asian RestaurantsTwo bottles of Purified Water every dayOffers a variety of sports and activities for tourists

18

POTENTIAL COMPETITORS(Central Region)Furama Resort – Da Nang

5 Star Luxury Beach ResortWorld's Best Resort Award Most Luxurious and Famous Resort of Asia and the

WorldTrue icon of Vietnam tourism and rated the #1

resort in Vietnam

19

Furama Resort Most up-to-date communication technologies for international

conferences and meetings, such as high-speed internet access, audio-visual systems and modern translation equipment.

Well known name Location- China Beach Hosts significant events at both the national and international

level Foreign dignitaries are welcome and usually stay there –such as

Zemin – People's Republic of China's former Secretary General, Thailand's former Prime Minister Thaksin, Queen Sophia of Spain, and Prince Henrik of Denmark.

International standards in scuba diving 15 minutes drive from Da Nang International Airport. Direct

flights from Bangkok and Singapore are offered and they are working on flights from Macau, Tokyo and Korea.

20

POTENTIAL COMPETITORS(Southern Region)Blue Ocean Resort - Phan Tiet

Along the stretch of Vietnam's famous Mui Ne beaches

Mui Ne - considered Hawaii of VietnamOne of the best resorts in Phan Tiet Affordable pricing Not far from Ho Chi Minh City

21

Blue Ocean Resort Location is very close to Phan Tiet city

and Ho Chi Minh CityFamous for seafood- close to Ocean- fishing

industry Has an Irish pub which attracts many tourists.

(only Irish pub near Ho Chi Minh city) Expert chefs that prepare traditional and

international cuisines Offers tours and activities for guests- hiking, golf,

swimming, elephant rides, scuba diving, boxing, boating, bungee jumping, etc.

22

Vietnam’s Geographic Influences Borders Gulf of Thailand, Gulf of Tonkin,

South China Sea, China, Laos, and Cambodia

Located in tropical and temperate zones Climates tend to vary, but generally

temperatures are high all year round. Weather is hot and humid

Tropical lowlands, hills, and densely forested highlands

How this influences our plan Major bodies of water border the country;

stunning ocean views and swimming areas Tourists can explore deep valleys and

breathtaking mountains. Warm temperatures ideal for a resort

atmosphere. Close proximity to Laos, Thailand, China and

Cambodia will attract many tourists throughout Asia.

23

Major Products and Industries Main natural resources: Coal, crude oil, zinc, copper,

silver, gold, manganese and iron. Agricultural products: Rice, maize, sweet potato,

peanut, soya bean, cotton, coffee and cashews. Major Industries: Mining, manufacturing, electricity, gas,

water supply, cement, phosphate, steel and fishing. Major Exports: Crude oil, garments/textiles, footwear,

fishery products, wood products, rice, sea products, coffee, rubber, and handicrafts.

Major Imports: Machinery, oil and gas, garment materials, iron and steel, and transport-related equipment.

24

Current Economic Conditions GDP (2007): $71.4 billion Real growth rate (2007): 8.5% Per capita income (2007): $832 Inflation rate (May 2008): 25% External debt (2007): 27% of GDP, $19.3 billion Literacy rate 94% Low unemployment rate 5.1% (2007) Tourism in Vietnam is a significant component of the country’s

economy Skilled and hardworking people English is a common language in larger cities and is taught in

schools Member of the WTO

25

Infrastructure Weak, but steadily improving. (international assistance is

being used to upgrade the roads) 93,300 kilometers (57,977 miles) of highways Highway from Hanoi to the International Airport and one

that links Hanoi and Ho Chi Minh City Major ports are Haiphong (in the north), Da Nang (central

region) and Ho Chi Minh City (in the south) 3 international airports (Hanoi, Da Nang, Ho Chi Minh City)

and 32 local airports Telecommunications are improving . 20.6 % use the internet The government has committed itself to the continued

growth of mobile networks, especially encouraging the extension of coverage to the provinces

26

Positive Demographic Factors Age Structure

Half the population is under 25 yrs of age Easy to recruit a youthful, vibrant and

energetic staff English

Young people learn English as second language

International tourists typically speak English

Vietnamese Standard Of Living 14.8% live in poverty Disney project will provide new jobs Improve standard of living Increase appeal to international tourists

27

Government Basics Vietnam is a single-party

state

President is Nguyen Minh Triet and The Prime Minister is Nguyen Tan Dung

In April 1992, a new constitution was established; it overviewed government reformation and amplified economic freedom

28

Methods for Promoting Global Business

Reformation of Government

Economic & political stability, also ambitious plans outlined by Vietnamese government to attract foreign investors

US has the status of Most Favored Nation (MFN)

US & Vietnam have good economic relations mainly due to U.S-Vietnam Bilateral Trade Agreement

29

Intellectual Property RightsVietnam is member of the World

Intellectual Property Organization (WIPO)

Significant progress in the legal system for protecting IPR, however, still need more enforcement on the streets; in regards to music, motion pictures and software.

30

Business Units

Kapolei Resort Hotel Oahu,

Hawaii (2011)

31


And Eco Tours

http://www.kingdomtravel.com/epcotmap.htm

EPCOT CenterOrlando, Florida

WORLD SHOWCASE

Centrally Located Attractions

Country Experiences• Mexico• Norway• China• Germany • Italy • United States• Japan• Morocco• France • United Kingdom• Canada

Vietnam Product Strategy

Attraction – Vietnam

• Three Primary Resort Hotels• Beachfront Locations• Close Proximity to International Airports

• Northern Region• Central Region• Southern Region

• Eco Tour Network• Countrywide• Buses, Bicycling, Hiking• Lodges, Farms, Homes, Boats


And Eco Tours

32

The Walt Disney Company


And Eco Tours

Travel With Conscience

Vanda Mokara Dendrobium

Vietnam Resort Hotels andEco Tours Business Entities

Resort Hotels Eco Tours and Lodges

30%

70%

Disney Vietnam Eco

Tours (Partnership)

Indochina Land Holdings

Disney Indochina

(Joint Venture)

Travel With ConscienceJohn and Lydia Dean

[email protected] Seminole Way, Rochester NY

14618 www.travelwithconscience.comwww.francevacationvilla.com

(800)-655-3403 (585) 319-3890 New York

+44 203 051 3238 London phone rings to New York

Indochina Land Holdings9th, 10th Floor - Capital Place 6 Thai Van Lung Str. - Distr.1 - HCMCTelephone: 84.8.3910 4855–Fax: 84.8.3910 4860. E-mail: [email protected] Website: www.indochinacapital.com

33

Ha Long City – Vanda

Country Wide Eco Tours and Lodges

Primary Resort Hotels

Da Nang – Mokara

Phan Tiet – Dendrobium

34

Walt Disney Productions: USD 350 Million

Vinaphone: USD 25 Million

Vietindebank: (Future source)

Vietnam government investment: USD 1 Billion

Purchase of Disney stock: USD 5 Million

35

ImagineeringMouse House Think TankDesign & Development

Product TechnologyMobile Phones and content

36

Staffing

ApproachesPolycentricIntercultural competence

AdvantagesSuccessful communication with other

culturesCritical in dealing with our

international guests

37

Staff Skill Requirements

Human Resources, Engineering, IT, Finance, etc. Degree from accredited UniversityExperience preferred

Management and StaffingTraining, fluency in English, plus cultural

awareness and interpersonal skills

38

Positions AvailableAirport representativeBell services Bibbidi Bobbidi boutique hostessCostumingCustodialFront deskEntertainmentSecurityVacation Planner Others

39

Training and Development

Learning and WorkingOn-site learning centers and programsEducational opportunitiesEducational reimbursement program

for full-time positions

Company and CommunityDisney Volunteers programDiversity Resources

40

Guidelines Appearance

Hourly positions Must be well-groomed Clean clothes, neat appearance

Professional positions Proper office attire at all times

Cast Members Required to wear a costume issued by the

wardrobe department Scheduling

Full time positions: Full time availability Part time positions: Minimum 2-3 days of full time

availability per week Transportation

To and from work, reliable transportation required 41

Compensation Wages & Salary

Weekly Entry Level Positions

Minimum wage Full-time, part-time and seasonal roles.

Above Minimum Wage Security, Food & Beverage, Bus Drivers,

Resort Guest Services and Culinary Professional positions: Determined individually

based on schooling & experience Benefits

Employee stock purchase program Annual pay increases Paid vacation Sick Days Retirement Plan Affordable Health Care Discounts on Disney dining, merchandise, recreation locations, resort

hotels, cruise lines, theme parks On-site childcare Wellness programs

42

Positive Economic Development , Infrastructure & Economic Conditions

From 2004 to 2007, GDP grew over 8% annually. Foreign trade, foreign direct investment and annual foreign

investment have improved significantly. From 1990 to 2005, agricultural production nearly doubled Exports in 2007 were a historic $48.39 billion Market oriented economy improved quality of life and income

levels. Bilateral trade between the United States and Vietnam has

expanded dramatically Member of the WTO since 2007 Infrastructure is improving due to the high level of investment

- transport, telecommunications, energy, water, and sanitation. Poverty decreased

43

Negative Economic Development, Infrastructure & Economic Conditions

Infrastructure may be improving, but it is still considered weak

Many highways are not paved. Improvements plan to be made between 2007-2010

Port congestion causes shipment delays Vietnam is less competitive than Thailand, Singapore and

Malaysia in terms of logistics Percentage living in poverty 14.7% in 2007 (mostly

minorities that live in the mountainous regions) 50% of the population still live on less than US$2 a day Vietnam remains a low-income country. A significant

proportion of people live just above the poverty line

44

Social & Cultural Risks Variety of religions - Buddhism, Confucianism, Taoism,

Christianity, etc Belief in ancestor-worship Desire to achieve harmony between the self and the non-

self Value system is based on four basic tenets: allegiance to the

family, yearning for a good name, love of learning, and respect for other people

Family comes first Collective society

45

Political and Legal Risks Poorly defined laws No independent judiciary Few qualified lawyers Lack of experience in international business. Few protections for copyrights and intellectual properties Government regulations imposed on foreign investors Inadequate infrastructure- Insufficient transportation

systems and Power outages are frequent. Some American companies are fearful of public reaction to

ties with Vietnam. Companies need to focus on the benefits of investing in

Vietnam-highly educated people, who are hungry for work, and eager for American brand names.

46

Risk Management TechniquesBuild Strategic alliances with local partnersEmploy local managersChoose 100% Foreign-Owned Enterprise,

Business Cooperation Contract, Build-Operate-Transfer Project, or a Joint Venture to make the transition smooth.

Educate staff on cultural sensitivity first.Get professional assistance- Use a

consulting firm.

47

Illuminations Asia

Disney Vietnam Resorts Basic Attractions

Full Service Spas5 Star Dining

Water Parks

GOLF!!!!!!!

48

Disney Vietnam Resorts Premier Attractions

Theater

Disney’s Ho Chi Minh Aquarium

49

Resort Features Vanda(North)

Mokara(Central

)

Dendrobium(South)

Resort Hotel Rooms 500 500 500

18 Hole Tiger Woods Championship Golf Course

Cirque du Soleil Vietnam – The Hidden Charm

The Walt Disney Company Theater - Vietnam

SOARIN’ Vietnam

INNOVENTIONS

Ho Chi Minh Aquarium

5 Star Dining Restaurants

Full Service Spa Services

Downtown Disney

Pleasure Island

Typhoon Lagoon

Blizzard Beach

Illuminations – Fireworks & Laser Light Show

Reservations Capability with Disney Eco Tours

50

Eco Tour Description Duration

Vietnam At A Glance Highlights of Vietnam - Hanoi, Hoi An and Saigon. Mekong delta’s network of canals and rivers.

8 d – 7 n

Classic Vietnam Overview of exotic Vietnam - Hanoi, cruise in Halong Bay, ancient cities of Hue, Hoi An and Saigon. Mekong delta’s network of canals and rivers.

11d – 10 n

Bike Vietnam Luxury or Basic - Hanoi, kayak in Halong Bay, ride through the ancient cities of Hue and Hoi An. Bike alongside the Meking Delta and its lush network of canals, rivers and villages

11d – 10 n

Humanitarian and Culture Tour with Le Ly Hayslip

Experience the beauty, authenticity and simplicity of life in a Vietnamese village - from cooking, farming, language classes, in-depth look at history, meditation, and Buddhism. Learn about village life during the Vietnam War, see how the efforts to rebuild the war-torn country through peace and reconciliation

10 d – 9 n

Eco Tours Options – Through “Travel with Conscience”

51Source: www.travelwithconscience.com

Why Vietnam?Travelers will be attracted to Vietnam’s beautiful

coastal destinations and historical centersTravelers will be attracted to the unique, full-line

of luxury amenities offered by the hotel resortsTravelers will receive the world-class experience

that only the Disney brand name can provideTravelers will enjoy the currency exchange

advantageTravelers will experience eco tours in beautifully

preserved natural regions

52

Applying the Four P’s of MarketingProduct – Leisure and business resort

hotels and eco tour destinationsPlace – Search Engine Marketing with

Yahoo, Google, MSN, etc.Promotion – Online, TV, radio,

newspaper, airlines, credit cards, tourism agencies, chambers of commerce

Price – Business, leisure, seasonal pricing

53

Family and foreign leisure travelersAdults with children CouplesGolfers

Foreign business travelersExecutive-level

(Managers, Directors, CEOs, etc.)

Domestic travelers Wealthy Vietnamese and Chinese

Sources: CIA World Fact Book and U.S. Dept. of State

54

TV, Cable and Satellite86% Vietnamese households with TVs

Telephones61.8 million phone subscribers

Computers and Internet 13.8% Vietnamese households with PCs 18.6% million Internet users

E-commerceNumber of people using the internet to book

airline tickets, hotels or movie tickets has increased significantly

55

Domestic tourism One-third of Vietnamese population income above poverty

level Per head expenditure to reach US$ 976.26 by 2011 Vietnamese per head disposable income projected to increase

by 5.88% between 2007- 2011 Percentage of population aged 15-64 years is expected to

increase to 68.8% of the total population by 2011 Inflation rates in Vietnam are expected to stay over 6.0%

between 2007 and 2010 causing a drag on incomes and slowing consumer spending.

Average Vietnamese prefers home country and nearby countries for leisure

56

Travelers by purpose Tourism (2,194,931)Business (723,264)Others (976,646)

Travelers by countriesChina (810,336)*S. Korea (392,150)USA (357,299)Japan (333,226)Australia (199,035)

57

Leading Vietnam Eco Tourist Source Countries

1 United States2 United Kingdom3 Germany4 Australia5 France6 Sweden7 Netherlands8 Denmark9 Norway10 Austria11 Canada12 New Zealand

59Source: www.symposia.cbc.amnh.org

Global Attendance 2007 World Visitors (116.5 Million)

Asia Region Attendance 2007 Regional Visitors

(30.47 Million)

Brand Power Use existing brand power to

bridge distribution between Asia, Europe and U.S.

25% of operating income comes from outside U.S.

Disney

Brand

Power

60

Cross-Promotions with: Visa, MasterCard, American Express, Discover Chamber of Commerce (American & Vietnam) Online travel services (Travelocity, Expedia, Orbits, etc.)

Vietnam Airlines, Korean Airlines, Air France-KLM Group, Aeroflot Russian Airlines and Boeing

2,791,556 international visitors to Vietnam have traveled there by air in 2008 – estimated through October 2008)

Source: VietnamTourism.gov

61

Pricing strategy used by the Hong Kong Disneyland HotelRoom Type Value US$ price Regular US$ price Peak US$ priceGarden View HK$1,600 $206.45 HK$1,900 $245.16 HK$2,200 $283.87

Sea View HK$1,800 $232.26 HK$2,100 $270.97 HK$2,400 $309.68

Sea View with Balcony HK$2,100 $270.97 HK$2,400 $309.68 HK$2,700 $348.39

Fantasia Room HK$2,300 $296.78 HK$2,600 $335.49 HK$2,900 $374.20

Kingdom Club Room HK$2,800 $361.29 HK$3,100 $400.01 HK$3,400 $438.72

Kingdom Suite HK$6,000 $774.20 HK$6,000 $774.20 HK$6,000 $774.20

62

Proposed pricing strategy for our 3 Vietnam based Disney resorts using the 1 USD = 16,629.50 VND

Room Type Value US$ price Regular US$ price Peak US$ priceGarden View

VND 3,492,195.00 $210.00

VND 4,157,375.00 $250.00

VND 4,988,850.00 $300.00

Sea ViewVND 3,907,932.50 $235.00

VND 4,573,112.50 $275.00

VND 5,238,292.50 $315.00

Sea View with Balcony

VND 4,573,112.50 $275.00

VND 5,238,292.50 $315.00

VND 5,986,620.00 $360.00

Fantasia Room

VND 4,988,850.00 $300.00

VND 5,820,325.00 $350.00

VND 6,651,800.00 $400.00

Kingdom Club Room

VND 6,236,062.50 $375.00

VND 6,818,095.00 $410.00

VND 7,483,275.00 $450.00

Kingdom Suite

VND 12,887,862.50 $775.00

VND 12,887,862.50 $775.00

VND 12,887,862.50 $775.00

63

Eco Tour Duration Price Per PersonBased on Double

OccupancyPrices determined by season, availability, and special elements

added.

Vietnam at a Glance 7 d – 8 n $ 2,100 - $ 2,800

Classic Vietnam 11 d – 10 n $ 2,500 - $ 3,500

Bike Vietnam 11 d – 10 n $ 2,800 - $ 3,500

Humanitarian and Culture Tour with Le Ly Hayslip

10 d – 9 n $ 2,800 (Groups of 6 – 10

persons)

64Source: www.travelwithconscience.com

65

Total for all 3 Resorts2011

USD Millions2012

USD Millions2013

USD Millions2014

USD MillionsREVENUEHotel revenue $ 173 $ 173 Other attractions $ 100 $ 100 Capital raised $ 690 $ 690 NET SALES REVENUE $ 690 $ 690 $ 273 $ 273 COSTSTotal Construction Costs $ 828.5 Total Indirect Costs $ 1,007.4Total Construction Labor Costs $ 37.5 $ 37.5 Marketing Costs $ 2 $ 2 Total Labor $ 4 $ 4SUBTOTAL COSTS $ 867 $ 37.5 $ 6 $ 6

Total Land Costs $ 178.5 Loan paybacks $ 65.3 $ 20.2 TOTAL COSTS $ 1,045.5 $ 37.5 $ 71.2 $ 26.1

NET PROFIT $ (355.5) $ 652.5 $ 201.8 $ 246.9

Vietnam sees plans to launch Disney-esque amusement parkThursday, 3 January 2008

Vietnam sees plans to launch Disney-esque amusement parkThursday, 3 January 2008

A Vietnamese local government just received plans for a new theme park project modeled on Disneyland estimated to cover nearly 200 hectares in the Vung Tau Bau Trung area.

The project was launched by the Good Choice Imports-Exports & Investments, and is expected to invest VND1.3 billion , reported Vietnam Investment Review.

The park will have a “Wonders of the World” sector which will include replicas of famous landmarks like the Eiffel Tower, Golden Gate Bridge and the Pyramids.

A spokesperson for the company had noted that the provincial authorities had been very supportive thus far.

“Our ambition is to revitalize the tourism industry in Vung Tau, which has many advantages in terms of location, scenery, beaches, but has been neglected by domestic and foreign tourists in recent years due to a lack of attractive tourist products and recreational facilities”

If approved promptly, the park could look to become partially operational by 2010, and is estimated to accommodate 100,000 visitors around the clock.

http://www.etravelblackboard.com/66

The Dream Continues

67