Director of the movie Todd Phillips poses at the premiere of "The Hangover Part II" at Grauman's Chinese theatre in Hollywood, California May 19, 2011.[Photo/Agencies]

LOS ANGELES – Hollywood's hangover is a lot bigger the second time around.

"The Hangover Part II" hauled in $86.5 million in its first weekend, putting Hollywood on course to set a new revenue record for the long Memorial Day weekend, according to studio estimates Sunday.

From Friday to Sunday, Hollywood's domestic take totaled about $220 million. Once Monday's receipts are counted, the industry should finish the four-day weekend with around $270 million, easily topping the $254.6 million Memorial Day record set in 2007, said Paul Dergarabedian, box-office analyst for Hollywood.com.

"The Hangover" sequel did nearly twice the business of the original blockbuster comedy in its $45 million opening weekend two years ago.

In its first four days since opening Thursday, the Warner Bros. sequel has taken in $118.1 million and is on track to finish the long Memorial Day weekend with about $140 million in the bank.

The first "Hangover" did not hit the $100 million mark until its second weekend. The movie went on to gross $277 million domestically.

"The Hangover Part II" reunites stars Bradley Cooper, Ed Helms and Zach Galifianakis as they awake in another haze and attempt to piece together the mayhem of their drunken night in Bangkok.

Overseas, the sequel opened in 40 other countries and added $59 million.

DreamWorks Animation's "Kung Fu Panda 2" opened solidly with a $48 million weekend, though it came in well below the $60.2 million debut of the first installment three years ago.

Since opening Thursday, "Kung Fu Panda 2" has pulled in $53.8 million. Distributor Paramount estimates the sequel will reach $68.2 million when the holiday weekend closes.

With voice stars Jack Black and Angelina Jolie returning, "Kung Fu Panda 2" follows the menagerie of martial-arts heroes as they face a villain aiming to conquer ancient China with gunpowder and cannons.

"Kung Fu Panda 2" also took in $57 million in 11 overseas markets, including $18.5 million in China.

After a No. 1 debut the previous weekend, Johnny Depp's "Pirates of the Caribbean: On Stranger Tides" slipped to third-place with $39.3 million. Distributor Disney estimates the sequel's domestic revenues will reach $163.6 million by the end of the holiday weekend.

"On Stranger Tides" also has taken in nearly half a billion dollars overseas, with its worldwide total through Monday estimated at $646.5 million.

Director Terrence Malick's sweeping drama "The Tree of Life" drew huge crowds in limited release, debuting with $352,320 in just four theaters in New York City and Los Angeles.

That gave the film a whopping average of $88,080 a theater, compared to a $23,923 average in 3,615 cinemas for "The Hangover Part II."

"The Tree of Life" stars Brad Pitt, Sean Penn and Jessica Chastain in the story of a grown son reflecting on his boyhood with his two brothers, saintly mother and loving but domineering father. The film, which won the top honor at the Cannes Film Festival the previous weekend, expands to more theaters Friday.