This theme park in Beijing, the Happy Valley, has just unveiled 500 million yuan worth of new equipment and stadiums. Happy Valley has 6 theme parks across China, and the brand is quickly expanding.
Happy Valley has a lot of competition. The world’s most famous theme park franchise, Disneyland, has invested about 25 billion yuan in its Shanghai theme park, nine years after the US giant launched its theme park in Hong Kong.
Analysts say theme parks across China are witnessing a shift in visitor demographics. As Beijing Happy Valley’s business expands, the park is also adjusting its target customer.
Beijing Happy Valley’s owners have so far sunk 2 billion yuan into the park, which has yet to recoup all of its investment. Company officials aren’t worried about a slow rate of return, saying they could welcome 5 million visitors next year 50 percent more than this year.