PARIS Euro Disney SCA, said that Bass Plc, Airtours Plc and Societe du Louvre SA s Envergure unit will build three hotels at Disneyland Paris, boosting the number of rooms by a fifth.
Bass is said to be building a 400-room Holiday Inn, Envergure plans to put up a 300-room Kyriad hotel and Airtours will build a budget hotel, according to reports.
Euro Disney will gain significant income in the current fiscal year by leasing ground to the hotel companies, said a spokesperson. The company, which is 39% owned by Walt Disney Co., expects property development to account for up to 15% of net income over the next three years. (2/27/01)
Source: Bloomberg