Disney's Lost Opportunity: Port Disney and the Battle for Long Beach
The Walt Disney Company had a problem in its first three decades - it didn't own the Disneyland Hotel, which was operated by another company. In search of a solution, Disney announced plans to build Port Disney, a $2 billion development in Long Beach that would include a theme park called DisneySea, an oceanarium, and five hotels with nearly 4,000 rooms.
The project aimed to bring in 13 million tourists annually, generating thousands of jobs and $47 million in tax revenue for Long Beach. However, local and state opposition caused the deal to fall apart in 1992, setting off a chain reaction that reshaped both Disney and Long Beach.
Disney CEO Michael Eisner was disappointed with the outcome, saying 'We are trying to succeed despite a California business climate that has gone from sunny to chilly.'