NEWS: Disney Parks to double in next 10 years with $60 BILLION Expansion!
NEWS: Disney Parks to double in next 10 years with $60 BILLION Expansion!
Disney is setting the stage for a near doubling of its Disney Parks and Experiences segment. In an early morning SEC Filing, the company revealed plans to spend nearly $60 Billion in the next 10 years in its parks around the world.
In the release, Disney shares that they have over 1,000 acres of land to develop. Including the Disneyland Resort. “Disney Parks has over 1,000 acres of land for possible future development to expand theme park space across its existing sites – the equivalent of about seven new Disneyland Parks.”
The release was filed in advance of an Investor Day presentation Bob Iger and Josh D’Amaro are set to give later today.
The presentation contains a slide showing how the opening of large new IP projects leads to park revenue growth. Setting the stage for the expansions to come being heavily dependent on Disney film properties.
Disney said revenue in the Parks, Experiences and Products business has grown at a rate of 6% per year since 2017, hitting $32.3 billion for the 12 months ended July 1, 2023.
Slides were included with the filing indicating some key points Iger and D’Amaro are sure to make later today with investors:
Duffy and Friends are the top merchandise item in the International Parks segment:
Disney Vacation Club offers Disney a double-digit return on investment, and the new Villas at the Disneyland Hotel resulted in DVC’s biggest-ever sales day.
No additional information was given on specific projects, but this is sure to be a busy 10 years for us here at MiceChat as we keep an eagle eye on how Disney intends to spend all that money.
At Disneyland alone, there are plans to add a theme park and a new entertainment district. More on the planned doubling of the Disneyland Resort here:
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