I didn't get out to the movies this weekend, but I saw a lot of reviews that basically said the same thing about it - that they basically took the first movie and moved it to Bangkok. Having seen the trailer, I wasn't too surprised by that because it revealed the set-up was the guys wake up after another night of being plastered, can't remember anything and have to retrace their steps.
Not having seen the movie, I feel like that's potentially the laziest excuse for a sequel they could have come up with. It would be like if Back to the Future part II had sent Marty again into his parents' past where he somehow put his own existence in jeopardy again. (Sidebar: I think BTTF part II's decision to "give the audience exactly what they liked about the first film" by sending Marty and Doc back to that same night in 1955, but with an entirely different complication to resolve was rather brilliant.)
But perhaps this is a case where execution trumps concept. I can't really say until I see it.
But what do you expect from a sequel? Do you want essentially the same film in a new box (like the various Friday the 13th sequels and it's ilk?) Do you want an entirely new take on the concept, such as how Aliens went in a very different direction from Alien? Do you want a continuation of the first film that elevates the series mythology to a more epic level, like Empire Strikes Back?
What do you love about sequels and what do you hate?
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