gorillaball
Well-Known Member
But we don't know if the $17B includes maintenance capex correct? With the 13,000 job figure you'd think it would have a pretty high portion devoted to capital improvements. But I'll also concede it's pretty easy to play with employment numbers too, 13,000 permanent employees vs 13,000 employees at various times for different projects... Per Forbes Disney employed 5,500 temporary workers in the construction of Galaxy's Edge at WDW alone.For comparison, Domestic Parks & Resorts Capex from 2011 to 2020 (i.e. pre-COVID) was $21.5B. That includes 2 cruise ships plus money spent at DL. However, P&R domestic numbers are dominated by WDW. Of that $21.5B, at least $17B was spent at WDW.
Domestic P&R depreciation was all the way up to $1.68B in 2022. Some of that depreciation will be on the ships, some will be at DL. Perhaps $1.2B per year will be at WDW. Adjust that for forward-looking inflation and, over 10 years, most of the $17B that Iger mentioned will be for upkeep.
Still, there will be some left for theme park improvements. Maybe a land or two (like the replacement for Dinoland) and perhaps two or three new attractions elsewhere. More DVCs for sure. Also, more non-theme park development.
The devil is in the details and we don't have the details.