Disney is planning to super-size its theme parks and cruise lines business. The Walt Disney Co. disclosed plans to boost capital spending in the Disney Parks, Experiences and Products business segm…
Disney is planning to super-size its theme parks and cruise lines business.disclosed plans to boost capital spending in the Disney Parks, Experiences and Products business segment to nearly double in a 10-year period, as compared with the previous decade, to approximately $60 billion in aggregate.
Top Mouse House execs, including CEO Bob Iger and Josh D’Amaro, chairman of Disney Parks, Experiences and Products, are scheduled to discuss the plans Tuesday at an investor summit at Walt Disney World Resort in Orlando, Fla., with analysts and shareholders. The plans, revealed in an SEC filing Tuesday, call for “investing in expanding and enhancing domestic and international parks and cruise line capacity, prioritizing projects anticipated to generate strong returns.”
In an investor slide deck accompanying the filing, Disney said revenue in the Parks, Experiences and Products business hit $32.3 billion for the 12 months ended July 1, 2023, representing a compound annual growth rate of 6% since fiscal year 2017. The segment, referred to as DPEP, generated operating income of $9.2 billion over the one-year period that ended July 1, an 8% CAGR since 2017.
“We believe that the company’s financial condition is strong and that its cash balances, other liquid assets, operating cash flows, access to capital markets and borrowing capacity under current bank facilities, taken together, provide adequate resources to fund ongoing operating requirements, contractual obligations, upcoming debt maturities as well as future capital expenditures related to the expansion of existing businesses and development of new projects,” Disney said in the filing.
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