Euro Disneyland President’s Message
Robert Fitzpatrick’s message to shareholders, from the Euro Disneyland 1989 Annual Report
One of my oldest Disneyland Paris souvenirs is the Euro Disneyland 1989 Annual Report: a 48-page glossy white brochure published in February 1990. It’s significant because, as far as I’m aware, it was the first document to detail the lands and attractions of Disneyland Park, and show photos of WDI’s models.
So, to preserve this piece of history, I decided to type up some of the text and scan some of the photos. What follows is the content from pages 2 to 7: President’s Message.
When Walt Disney crossed the Marne at age 17 as a volunteer in the American Expeditionary Forces, he could not possibly have imagined that one day, on the banks of that same Marne, there would be an enterprise bearing his name…
He could not possibly have imagined that the characters of classic European legends would find personality and global recognition through his films… and that these films would inspire theme parks, first in California, then in Florida and even in Japan.
Walt Disney could not possibly have imagined then, that in this country, 71 years later, Euro Disneyland would be on its way to becoming one of the largest family vacation destinations in Europe.
But through the years, this dream began to take shape and was to become, step by step, a marvellous reality.
And today we are gathered to mark a very real milestone in the development of Euro Disneyland.
The year 1989 was particularly important in the evolution of Euro Disneyland. Progress on the site, the organisation and financing of the project, relationships with investors and participants, as well as a close collaboration with public parties are all concrete evidence of what has been accomplished this past year.
On the site at Marne-la-Vallée, the hillsides, walkways and riverbeds have already taken form. The grading for the hotels, the lake, the entertainment centre and for the RER and TGV stations is complete.
The conception of the six themed hotels, the entertainment centre, the campground and the golf course made great strides in 1989.
The first vertical construction of the Magic Kingdom and the hotels is coming out of the ground and will soon reveal what Euro Disneyland will be in 1992.
Just as important as our physical progress in 1989 was the progress made during the year in our financial and legal arrangements for the project.
In keeping with the provisions of the Agreement signed with the French public parties in March 1987, two key companies become operational in 1989: EURO DISNEYLAND S.C.A. and EURO DISNEYLAND S.N.C.
The financing for Phase 1A, which includes the Magic Kingdom, the Magic Kingdom Hotel, and the first 595 campsites, was completed in 1989.
In addition, our stock offering was a tremendous success throughout the European Community. As a result, your Company is now well capitalised. We have more than 250,000 shareholders from the European Community and are listed on the stock exchanges in Paris, London and Brussels.
We have also moved ahead on developing participant relationships with major European and international companies. EUROPCAR and KODAK-PATHE joined us in 1989 as participants, following RENAULT and BNP in 1988. Other long-term participant contracts, all lasting beyond the year 2000, will be announced in the near future.
These companies will have a presence as sponsors of attractions in the Magic Kingdom and will develop Euro Disneyland-related advertising and communications programs throughout Europe.
In February 1989, we signed with EPAFRANCE the Detailed Program for the development of the first phase, enabling the first land purchase in June 1989. We reached an agreement with the SNCF in January 1989 for construction of a TGV station located near the Magic Kingdom entrance. Beginning in 1994, this station will link the site to the European TGV network, allowing a British family to travel from London to the Euro Disneyland resort in 3 hours and 15 minutes without changing trains.
In addition, grading for the extension of the RER began in June 1989 and the first expressway interchange went into service in July 1989, ahead of scheduled.
As is true for any project undertaken by Disney, the most important element of Euro Disneyland is the quality and professionalism of the people who will bring the project to reality.
In this context, we are pleased to inform you that Judson Green, our Senior Vice President-Real Estate and Chief Financial Officer through 1989, has been named Senior Vice President and Chief Financial Officer of The Walt Disney Company. John Forsgren, who has played a key role in the Financing Strategy of the project, became our Senior Vice President and Chief Financial Officer on January 2, 1990.
More than 300 highly qualified European employees, whom we call “cast members” to emphasise teamwork and our entertainment heritage, have been hired throughout the Company. They begin their careers with in-depth training on Disney traditions and know-how.
Key European managers also spend periods of intensive operational training at Walt Disney World Resort and at Disneyland.
Additionally, a limited number of Disney veterans, having gained a long and valuable experience in the parks in Florida, California and Japan, have come to France for two to three years to work side by side with their French and European counterparts to transfer their knowledge and expertise.
Our most important investment is not in the construction of buildings, but in the selection and training of our cast members, because they are the true wealth of the Company and are responsible for the success of the project.
Even though we devote most of our efforts to opening day in 1992, we are already hard at work on developing new attractions which will be added to the Magic Kingdom in future years.
In addition, we have just announced the theme of our second park : the Disney MGM Studios-Europe, planned to open in 1996.
Euro Disneyland will always be a wonderful combination of dream and reality. We intend to share with you today a little of both: dream, because it is only with good ideas that one can move forward and envision the future ; and reality, for without well-planned and perfected execution, dreams remain in the realm of the imaginary. The combination of these two fundamental elements forms a solid base upon which we are building our future… in order to contribute to yours.
On behalf of all members of the Company, I thank you for the confidence and support you have shown us by becoming shareholders. â–
Robert Fitzpatrick
Président-Directeur général
Euro Disneyland S.A.
Scans: @CafeFantasia
Transcription: @CafeFantasia
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