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Disney plans so as to add a brand new theme park to its portfolio, with the leisure big revealing Wednesday that it intends to open one within the United Arab Emirates (UAE) within the coming years.
Disney’s new theme park shall be constructed on Yas Island in Abu Dhabi, the capital metropolis of the UAE, in line with the corporate.
The theme park in Abu Dhabi “will offer signature Disney entertainment, accommodations, unique dining and retail experiences, and storytelling in a way that celebrates both the heritage of Disney and the futuristic and cultural essence of Abu Dhabi,” Disney stated.
The brand new park shall be Disney’s seventh. (Walt Disney Firm)
UAE-based leisure and leisure developer Miral will tackle the event and operation of Disney’s Abu Dhabi theme park. Disney and its “Imagineers” will present “creative design and operational oversight” for the mission.
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In an announcement, Disney Experiences Chairman Josh D’Amaro stated it “represents a new frontier in theme park development.”
“Our resort in Abu Dhabi will be the most advanced and interactive destination in our portfolio,” he stated. “The location of our park is incredibly unique — anchored by a beautiful waterfront — which will allow us to tell our stories in completely new ways. This project will reach guests in a whole new part of the world, welcoming more families to experience Disney than ever before.”
The corporate highlighted the UAE’s location as being in proximity to one-third of the world’s inhabitants.
“This is a thrilling moment for our company as we announce plans to build an exciting Disney theme park resort in Abu Dhabi, whose culture is rich with an appreciation of the arts and creativity,” Disney CEO Bob Iger stated, including that Disneyland Abu Dhabi shall be “authentically Disney and distinctly Emirati.”
The park shall be constructed on Yas Island in Abu Dhabi. (Walt Disney Firm)
The Abu Dhabi park will convey Disney’s worldwide theme park depend to seven.
Disney stated in a Securities and Change Fee submitting that it’s going to “license its IP for the operation of the theme park and resort and provide certain development and management services.” The corporate will obtain royalties “based on the project’s revenues” and gather “service fees” from it however “not provide capital” for it, in line with the submitting.
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Its six current parks are located in Florida, California, Paris, Hong Kong, Shanghai and Tokyo. Of the six Disney theme parks currently operating, Shanghai Disney Resort is the most recent to have opened, welcoming guests for the first time in 2016.
The company currently also has “new lands and attractions” in the works at Disney World and Disneyland, according to its quarterly earnings release.
Disney Dreamer Rose “Rosie” Warfield looks on during the Disney Dreamers Academy at Walt Disney World Resort in Lake Buena Vista, Florida, on March 5, 2022. (Al Bello/Getty Images for Disney Dreamers Academy / Getty Images)
Disney’s theme parks are a part of its Experiences enterprise section, together with its cruises and shopper merchandise.
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The corporate stated on Wednesday its Experiences section generated $8.89 billion in income throughout the second quarter. Of that, its home parks and experiences accounted for $6.5 billion, whereas its worldwide parks and experiences had been chargeable for $1.44 billion.
Within the second quarter, Disney noticed $23.62 billion in total income, up from $22.08 billion in the identical three-month interval final 12 months. Its internet earnings, in the meantime, got here in at $3.28 billion.
Ticker Safety Final Change Change % DIS THE WALT DISNEY CO. 101.23 +9.15
+9.94%
