After Tokyo Disneyland opened to great success in 1983, the executives of the Walt Disney Company began plans for a European extension. The company considered many possible locations, but soon chose Marne-la-Vallee, a French town, as the site.
Disney CEO Michael Eisner signed the first contract with the French government in 1985, and construction on Euro Disney began in 1988. The information center Espace Euro Disney opened in 1990, keeping the public informed about the ongoing work.
The park opened in April 1992, and although 500,000 visitors were expected, only 50,000 came.
For the first three years, the park reported large financial losses. Attendance was poor, employees reported high dissatisfaction and the French press grew more appalled at the presence of an America-centric park in their country.
In 1994, the park was renamed "Disneyland Resort Paris" in order to dissociate it from the negative press surrounding "Euro Disney." In 1995, Space Mountain was added to the park's attractions, and the park turned its first-ever profit.
The park is still dubiously profitable. Even with much of its debt written off, the company reports billion-dollar deficits: specifically, $2 billion in 2007. However, in 2008, the park was the most-visited attraction in Europe and reports more than 15 million visitors every year.
