This study aims to find out what are the critical reasons that result in the significantly different performance of Hong Kong Disneyland and Tokyo Disney Resort, and what experience and lessons that the new Shanghai Disneyland can learn from. A comparative analysis is conducted from external and internal aspects between the two Disney theme parks in Asia. The results indicate that unfair financial arrangement and the small size of Hong Kong Disneyland have hefty impacts on profits while the Tokyo Disney Resort succeeds by providing a Japanized American Dream to Japanese visitors. Although there are other influential factors, the writer argues that the reason lies mostly in the financial arrangement and the small size of Hong Kong Disneyland. The two cases can provide experience and lessons to future theme parks in China, especially projects themed in international companies.