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Bad Decisions At Euro Disney

Two years after Walt Disney Co. opened its new part in France, Euro Disney was losing $1 million per day, despite over a million visitors per month. What had gone wrong?
Disney was overly ambitious, and had made serious strategic and financial miscalculations. It relied too heavily on debt, just as interest rates started to rise. It assumed a real estate boom would continue, allowing it to see some properties to pay off its debts. It made mistakes in the park itself, including cost overruns, a no-alcohol policy (in a country where a glass of wine for lunch is standard), too few bathrooms, and a mistaken assumption that the French would not want breakfast at the hotel restaurants.
The company blamed its problems on a severe European recession, high interest rates, and the devaluation of several currencies against the French franc. But is had alienated the people with whom it needed to work. Disney thought it knew best, and persistently imposed its will on others. "They......


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Approximate Word Count: 680
Approximate Pages: 3 (250 words per double-spaced page)

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