Walt Disney Co. is almost doubling its investment in its Parks, Experiences and Products division to approximately $60 billion over the next 10 years.
The investment will include expanding and enhancing domestic and international parks and cruise-line capacity and prioritizing projects anticipated to generate strong returns, according to a filing with the Securities and Exchange Commission. Disney says it has more than 1,000 acres of land available for future development globally.Disney Chief Executive Bob Iger, who made the investment announcement to Wall Street analysts and investors at Walt Disney World Resort in Orlando, Fla.
Disney’s Parks, Experiences and Products segment — propelled by the additions of Disney’s Hollywood Studios in Orlando and Cars Land at Disney California Adventure — generated $32.3 billion in operating income over the last 12 months, according to a presentation included in a regulatory filing. The investment comes amid a summer slowdown at Walt Disney World in Orlando. One of the slowest July 4 holiday weekends in nearly a decade has prompted a debate over whether the iconic park is a victim of terrible weather, political squabbles or prohibitive ticket prices.
Read more: Is Disney World really a ‘ghost town’? Or the victim, like other Florida parks, of lousy weather and high ticket prices?
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Disney to double Parks investment to $60 billion over the next 10 yearsThe Walt Disney Co. is expanding its investment in Disney Parks, Experiences and Products to almost double, reaching approximately $60 billion over...
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