Disney's nearly $2-billion expansion plan for Disneyland highlights the importance of the company's theme parks for its bottom line.
Over the decades since Walt Disney opened his first theme park in 1955, the company's tourism business has ballooned to an enterprise worth tens of billions in yearly sales, with sprawling locations in Anaheim, Orlando, Paris, Shanghai, Hong Kong and Tokyo. Today, the Burbank entertainment giant is doubling down once again. Disney plans to invest $60 billion over 10 years into its so-called experiences division, which includes the theme parks, resorts and cruise line, as well as merchandise.
' Theme parks are typically one of the fastest parts of the travel and hospitality industry to recover after economic downturns, said Dennis Speigel, founder and chief executive of consulting firm International Theme Park Services. Part of that is because it's hard to duplicate the theme park experience at home. “Disney sets the bar for our entire global theme park industry,' Speigel said. 'The guests, the visitors, they love the way Disney immerses you in their storytelling.
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