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Disney’s $60 billion theme park investment will bring change 'all over,' says CEO Bob Iger
09.02.2024 - 19:54 / thepointsguy.com / Bob Iger / Josh Damaro
It's a great time to be a Disney fan. Last September, during an investor summit in Orlando, Disney announced plans to "accelerate and expand investment" in its theme parks, cruise line and other vacation experiences — to the tune of $60 billion over the next decade.
"We have an ambitious growth story that is supported by a proven track record and a bold vision for the future of our Parks business," Disney Parks, Experiences and Products Chairman Josh D'Amaro said in a statement.
During Wednesday's first-quarter earnings call, Disney dropped a few more hints on what's to come for its theme parks across the globe, after reporting that every one of its parks was profitable during the first quarter of Disney's 2024 fiscal year.
Disney's new Chief Financial Officer Hugh Johnston revealed the company is earmarking approximately 70% of that $60 billion — or around $42 billion — for "incremental capacity-expanding investments around the globe."
The company is "already hard at work determining where we're going to place our new investments and what they will be," Disney CEO Bog Iger further explained. "You can pretty much conclude that they'll be all over — meaning every single one of our locations will be the beneficiary of increased investment and thus increased capacity, including on the high seas, where we're currently building three more ships," he continued.
Related: Everything we know about Disney Treasure, coming to Disney Cruise Line in 2024
In terms of timing, Iger said, "I'm not going to really give you much more of a sense of timing except that, you know, we're hard at work at getting these things basically conceived and built. We've got a menu of things that will basically start opening in 2025, and there'll be a cadence every year of additional investment and increased capacity."
Though details are scarce, up until a few years ago, Disney was even more tight-lipped about upcoming projects in its theme parks. Only since D'Amaro stepped into the role of chairman of Disney Experiences has Disney given guests a peek behind the curtain at what it is dreaming up next.
"I'm as much of a fan as I am the leader of Disney Experiences. I get a chance to be with the Imagineers every single day and see what they're working on, whether it's a model or a sketch or just someone discussing an idea. And it's fabulous; if I could spend every waking moment there, I would," D'Amaro told TPG during a panel interview at the grand opening of Hong Kong Disneyland's World of Frozen. "In my first year in this role, I said, 'We should be sharing this with the world,'" he added.
Related: The 21 most underrated things at Disney World: What to see, do and eat that many guests miss
During 2022's annual D23 Expo fan
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