If you were the Chairman of WD Parks & Resorts, what would you announce for the coming years? What would you be excited about in regards to what has already been announced? Would you start your Report with bad jokes?
Well, that’s what present Chairman Tom Staggs did as he delved into this Report. What follows are some highlights, along with a comment or two from yours truly:
Tom started with a lame FastPass joke before announcing that it has been a fantastic year. Then he showed a video montage of his first year as Chairman. I’m sure it was riveting!
Then came these statements:
- The Parks are really well positioned to take advantage of the economic recovery
- The substantial capital spent on the Parks will create value for investors
- Guest Experience was identified as the key business for Parks & Resorts
Tom then identified four unique assets and competitive strengths that set Parks & Resorts apart. These are:
- The Disney Brand
- Intellectual Properties and creative talent
- Technology and innovation
He then shared a famous quote from Walt Disney: “It’s kind of fun to do the impossible.” He stated that Walt’s drive for innovation is still alive in the present Imagineers. I would have to agree with this as I see many exciting new attractions being built around the world, as well as the fantastic new features of the Disney Dream Cruise Ship. The forth asset mentioned was:
- The incomparable Cast
Tom then stated that research had shown that people cite interactions with Cast Members ‘as the single biggest factor in their satisfaction and intent to return.’
Hopefully, this will lead to a better relationship between Disney and its Cast Members, with these hard working people getting their due!
Next, three initiatives were announced:
- Growing established assets
- Building new businesses
- Expanding in geographic markets
Tom expanded on these three points by listing many of the Assets of the Disney Company and by outlining the plans for expansion.
He then touched on what has become a hot topic for Disney fans, that being the expanded FastPass initiative. Tom said: “…we are currently developing an innovative system that will, in essence, create a version of FastPass for their (Guests) entire Disney vacations.”
This involves reserving not only Resorts and restaurants, but also times for riding favorite attractions, Meet-and-Greets, plus seats at shows and spectaculars. It’s my view that this could take some of the Magic out of a spontaneous vacation experience, while edging out the common Theme Park attendee in favor of a newly-created elite class. Only time will tell if these initiatives are for the best.
Tom next discussed the Disney Cruise Line, DVC, and off-shore Parks. Most notably, Shanghai Disney. Here is what he had to say about that initiative: “We are well into our blue sky development, and once Shanghai opens in about five years, we know we will have a park that is distinctly Disney,
yet authentically Chinese. Taken as a whole, we believe China is the most exciting opportunity
we’ve had since Walt first bought land in Florida in 1964.”
Bold words. There was so much more to this report than I could include here! But one thing that came across again and again was that no matter what idea was coming, it was going to have this result:
“They (all of the ideas contained in the Report) are right for our brand and for our business, and they will help us create value for our shareholders for many, many years to come.”
I guess the only other question to ask is: Will they create value for the Disney Guest? If you have an opinion on this, please give it in the comment section. We at Chip and Co. would love to hear what you have to say!
Lee A. Beatens is a Writer/Artist. His writing side is showcased at the Blog called Disleelandia, and his love for all-things artistic is showcased at the Blog called The CANADIAN Kingdom. His improbable third side is showcased here. You can follow him on both FB and Twitter.
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