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Disney grows: puts 56.17 billion on the table to expand parks and cruises

Date: December 8, 2023 Time: 11:44:33

Business giant Walt Disney announced this Tuesday that it plans to invest approximately $60 billion (€56.17 billion) in the expansion of its theme parks and cruise lines over the next ten years, almost double what it spent in the previous decade. . .

“We are incredibly aware of the financial foundation of the company, the need to continue to grow in terms of results, the need to invest wisely to increase the return on invested capital and to maintain a financial state,” said Bob Iger, director Disney executive.

The statement comes after the meeting held at Disney World Resort in Orlando, in central Florida, by Iger with the president of Disney Parks, Experiences and Products, Josh D’Amaro, and Wall Street analysts and investors.

Along those lines, D’Amaro noted that Disney’s story is an “ambitious growth story that is backed by a proven track record and a bold vision for the future of our theme park business.” The central axes of Disney’s expansion and growth strategy will be “stories, scale and followers.”

Thus, Disney will leverage its “unparalleled library of intellectual property” to enrich immersive experiences in its parks, where its “beloved stories come to life in innovative ways” and fans of all generations and geographies can connect and explore their favorite brands, from “Avatar” and “Zootopia.” “We have a wealth of untapped stories to bring to life in our business,” D’Amaro said.

“Frozen” tells stories,” D’Amaro stressed.

The entertainment giant has seen growth after previous periods of significant investment, which included the additions of the “Cars Land” themed land, inspired by the Pixar Cars franchise, to Disney California; as well as “Adventure”, “Star Wars Galaxy’s Edge” or “Avengers”, among others, the statement said.

Today, Disney has 12 theme parks around the world, the largest number of parks of its kind on the globe. Its most recent resort, Shanghai Disney Resort, opened in 2016.

Disney operates seven of the ten busiest theme parks in the world, including Walt Disney World’s Magic Kingdom Park, which has been the number one attended theme park in the world for decades.

Disney parks receive approximately 100 million visitors each year.

As for the cruise line, the company previously announced that it will add two more ships to its fleet, the “Disney Treasure”, in fiscal year 2025, and another in 2026.

According to its latest earnings report, Disney Cruise Line reported that it is recording 98% booking occupancy, WKMG TV acknowledged today.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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