Josh D’Amaro says Disney has over 1000 Acres for Future Development
Disney recently shared that it plans to expand its parks investments and Josh D’Amaro said that the company has “over 1000 acres of land for possible future development to expand theme park space across its existing sites – the equivalent of about seven new Disneyland Parks.”
D’Amaro, the Disney Parks, Experiences and Products Chairman, along with Senior Disney executives gathered for an investor summit in Orlando a few days ago. The summit focused on Disney’s Parks business and its track record of investing aggressively and intelligently in experiences that leverage the powerful and ever-growing library of Disney stories.
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Currently, Disney is physically the largest of any global theme park travel business. There are 12 Disney theme parks across six sites worldwide. Disney’s parks business is a key driver of value creation for the company. The parks overseas are getting refurbishments and new lands, Epcot’s construction is set to be completed soon, and Disney recently shared there are more expansions in the works.
“We stand alone when it comes to scale,” said D’Amaro. “And while our scale is impressive, we have no shortage of space or regions of the world in which to tell new stories.”
Seven of the top ten most visited theme parks in the world are Disney theme parks. The parks welcome approximately 100 million guests each year. In spite of that, for every one guest who visits a Disney Park, there are more than ten people with Disney affinity who do not visit the Parks. There is a large market of Disney fans that don’t go to the parks and Disney wants to address that.
“Ultimately what is most important to us is the relationship that we have with every guest,” said D’Amaro. “Guests can spend a day with us at our Parks, a week with us on a Cruise, or the rest of their lives with us through Disney Vacation Club membership.”
“Throughout our history, we’ve created enormous growth by investing the right amount of capital into the right projects at the right moment,” said Bob Iger. “We are planning to turbocharge our growth yet again with a robust amount of strategic investment in this business.”
We’re looking forward to seeing what Disney does going forward and what they might do with the 1000 acres.
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