Disney Shanghai Opens To Large Crowds

Walt Disney’s $5.5 billion theme park in Shanghai opened its gates to large crowds on Thursday.

Thousands waited on line in the rain to enter to enter the long-awaited park, which took five years to complete. After this morning’s opening ceremony, complete with fireworks, only the first few ticket holders were permitted inside to avoid overcrowding.

Last Saturday, the park welcomed roughly 35,000 guests as part of a soft opening. Analysts predict 11 million people a year will visit the resort.

The Disney Shanghai Resort, which spans 963 acres, comprises six themed areas, two hotels, and a shopping and dining district. Single-day adult ticket prices cost $75 on weekends and holidays, and $56 on nonpeak days.

The park has the potential to bring Disney huge returns; under the joint-venture agreement with its Chinese partners, Disney will receive 43% of revenue from the park, including merchandise, food sales, and hotel income.