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Disney to increase its investment in parks and cruises

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Disney announced in a securities filing on Tuesday that it plans to double investments in parks and cruises.

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The planned investment is around $60 billion over the course of ten years.

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The news comes amid efforts of Disney revamping its investments by selling its TV networks as it struggles to make the streaming business profitable.

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Its theme parks, however, are still profitable, though attendance and hotel bookings since the pandemic have been slow.

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Despite being profitable, the business in domestic parks, especially Walt Disney World, has been slow with low attendance and hotel room bookings.

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Disney plans to use 1,000 acres of land for development in Disneyland in California, Disney World in Florida, and parks in France, China, and Japan.

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Cruise ship ports in the U.S., Asia, New Zealand, and Australia are also being expanded.

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It plans to add a new homeport in Singapore to expand its Asia-Pacific reach, and two ships in 2025 and another in 2026.

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