Last year, Disney announced that it would be investing around $60 billion in expanding its theme parks and cruise business, double the amount that the company had previously invested in the last decade. This resulted in Disney’s share price dropping more than expected. According to sources, Wall Street wanted the specifics of the expansion, but Disney had none. Disney fans, on the other hand, were super excited, but only for a short time. Later, they started questioning Disney’s plans and whether the news was correct or just a prank by Disney.
The reports were accurate, as Disney has now shared some details regarding the expansion of its theme parks and cruise business. In addition to the four cruise ships announced previously, the company will build four new cruise ships. Disney’s flagship theme park in Florida, The Magic Kingdom, is all set to get its biggest renovation in the last 53 years. The company has had one new land devoted to the villains of the Disney universe, along with a land dedicated to Pixar’s Cars movie.
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Along with this, the Disney resort in California will also be revamped as the company plans to add two superhero-themed rides. The two rides will include a water-based “Avatar” ride and the company’s first Coco ride along with a show starring an animatronic Walt Disney. The chairman of Disney Experiences, John D’Amaro, said, “ We are dreaming Big. We’re investing in every part of our portfolio and pushing boundaries as we turn what-ifs into reality.” The main reason cited for this expansion is the lowering number of tourists and visitors in the theme parks. Disney has seen a constant reduction in the number of visitors to its theme parks for quite some time, and this expansion is targeted towards attracting more visitors.
The expansion plan will also include the introduction of a Monsters, Inc.”-themed suspended roller coaster (with hanging cars under the tracks), a ride-through “Encanto” experience, a “Lion King” water ride and a major “Spider-Man” roller coaster.
