Dalian Wanda Group, a selling mall and party organisation tranquil by China’s wealthiest man, has hired a former handling executive of Hong Kong’s Disneyland to assistance lead a enlargement of a Chinese company’s thesis parks opposite a mainland.
Andrew Kam Man-ho has assimilated Wanda as clamp boss of a Wanda Cultural Industry Group unit, according to a Chinese company’s spokesperson.
Kam’s appointment would be a critical step in Wanda’s devise to build a network of 15 Wanda City thesis parks opposite China to confine Disneyland and contest for a party output of a country’s flourishing center category households.
“A tiger has no possibility of violence a container of wolves,” Wang pronounced in May during a opening of his 20 billion yuan ($2.9 billion) Wanda City thesis park in a Jiangxi provincial collateral of Nanchang, forward of Disney’s initial mainland park in Shanghai.
Wang, whose resources is estimated during 215 billion yuan according to a annual Hurun list of China’s most-minted individuals, had vowed to request rival vigour on Shanghai Disney to make it “unprofitable for 20 years.”
Kam, a former 20-year maestro of Coca-Cola Co., was handling executive of Hong Kong Disneyland from 2007 until Mar this year. The city’s thesis park, with a daily ability of 34,000 visitors, is a fewest of all Disneyland parks, and faces foe with a new Disney park in Shanghai.
Visitor numbers to Hong Kong Disneyland rose from a fewer-than-expected 5.2 million in a initial year of operations in 2005 to 6.8 million in 2015. The park reported a net distinction of HK$109 million in 2012, though swung to a HK$148 million detriment final year.
In Mar this year, a park began laying off dozens of employees, while Kam stepped down, citing personal reasons.
Wanda Cultural Industry Group had resources of 90.3 billion yuan and annual income of 51.2 billion yuan in 2015, and was one of Wanda’s core businesses.
By 2020, Wanda Cultural Industry Group aims to be among a tip 5 informative companies in a universe in terms of revenue, according to a company’s website.