Walt Disney to invest $2.47 billion in French theme park

The Walt Disney Company announced a 2 billion euro ($2.47 billion) investment drive to expand its French theme park Disneyland Paris, which it took full control of last year.

Walt Disney said in a statement that the expansion plan is one of the most ambitious development projects at Disneyland Paris since its opening in 1992 and underscores the company's commitment to the long-term success of the resort as Disney's brand beacon in Europe.

Disneyland Paris comprises two theme parks - the fairytale-themed Disneyland Park and the Walt Disney Studios Park. Its seven hotels have some 5,800 bedrooms, two convention centers and a golf course.

This month, Walt Disney reported a quarterly profit that topped forecasts as theme park crowds packed a new "Avatar" land.