News Walt Disney Company plans to spend $17 billion at Walt Disney World over the next ten years

[Minnesota disney fan]

What would Central Florida's economy be if Disney hadn't decided to open a theme park there and had chosen somewhere else? All it really was before Disney's arrival was a wintering spot for 'Snowbirds'. Would SeaWorld, Universal and all the other tourist attractions gone there under their own volition? Unlikely.

We actually visited Florida Before WDW was built. It had more of a tropical fancy vacation vibe in the Miama area. The other areas on the Atlantic side were more natural. We went to the only outdoor seaworld type place in Florida at the time and it was called Marineland.
We traveled through the southern border of Lake Okeechobee and only saw a lot of poor people along the way. We visited Silver Springs when they had huge fish to see, and to see the Mermaids (but I can't remember where that was)., and their water skiing show.
We drove through lots of orange groves for miles and saw a lot of natural undeveloped land. We never made it to the Everglades and I regret that, but loved the natural beauty of the state and the few attractions available. We spent money on hotels on the beaches, food, gas, and the few attractions in the middle of the state. That amount would not compare with what is spent today, but it was an experience I will never forget.

 

[Sirwalterraleigh]

What would Central Florida's economy be if Disney hadn't decided to open a theme park there and had chosen somewhere else? All it really was before Disney's arrival was a wintering spot for 'Snowbirds'. Would SeaWorld, Universal and all the other tourist attractions gone there under their own volition? Unlikely.

I would say 3 entities/individuals have had the biggest impact on the development of Florida:

1. Flagler
2. The Disneys
3. The Eisenhower/Kennedy/Johnson administrations.

So it’s really not possible to overestimate the impact of wdw

 

[Eric Graham]

We actually visited Florida Before WDW was built. It had more of a tropical fancy vacation vibe in the Miama area. The other areas on the Atlantic side were more natural. We went to the only outdoor seaworld type place in Florida at the time and it was called Marineland.
We traveled through the southern border of Lake Okeechobee and only saw a lot of poor people along the way. We visited Silver Springs when they had huge fish to see, and to see the Mermaids (but I can't remember where that was)., and their water skiing show.
We drove through lots of orange groves for miles and saw a lot of natural undeveloped land. We never made it to the Everglades and I regret that, but loved the natural beauty of the state and the few attractions available. We spent money on hotels on the beaches, food, gas, and the few attractions in the middle of the state. That amount would not compare with what is spent today, but it was an experience I will never forget.

Wasn't that where Bernie the dolphin was housed? I really enjoyed the movie about Winter the dolphin in Clearwater Florida. Did you know that dophins can hunt while they're sleeping with one eye closed. Well, Hawaii dolphins can anyway.

 

[Sirwalterraleigh]

That's one new Cruise Ship every year - Wish was actually $1.8

God I hope it’s used for something more useful than that !

 

[Phicinfan]

Hey…I’m the king of that.

But I’m here to “ground”…you don’t build your house without a lighting rod or it burns down when you’re at pop century


I just don’t think Iger really came back for this little stint. His reputation was tarnished and he didn’t like being out of the cycle.
And that’s not gonna be “fixed” by 2024.
It may be worse based on economic indicators and the problems HE started that are coming to a head now. And just starting.

So strap in.

One minor development is people spent 15 years adamantly saying his reign was better than Eisner. In some ways - yes. But as far as impact/legacy? Oh no…that battle is over. Watch it play.

See here is where we differ. Its been made clear Chapek was HIS decision and he has XX amount of time to fix the issues. That would be his legacy then, he came in and fixed it and set the path in a short time. I don't see any way he or the board can save face if they keep extending him cause it isn't fixed yet. That to me just proves he isn't the fix.

Only time will tell though.

 

[hopemax]

The interesting part is the “13,000 new Disney jobs”. That’s like a theme parks worth of new cast (I know they’re not building a 5th gate, just using as a reference point), which seems to align with Bob’s previous comments of acknowledging the fact they need more capacity.

I don't know, my first thought was that maybe it was a hint about how many CA jobs Disney wishes to eventually relocate to FL. Nothing to do with park capacity at all.

My first question about the $17 billion was, "How much of that is already baked in, to support existing operations?" The problem with large numbers is that because they are incomprehensible, just on their own they sound sexy, and something big must be on the horizon. When it's just the extent of the existing inertia.

They are. But the specific statement was $17 billion @ WDW

Florida actually. Which would be WDW, Cruise operations, Lake Nona project, and whatever else Disney might choose to do in FL.

While Iger, make some strong good statements yesterday, the $17 billion fell flat to me. More an acknowledgement that, to some extent FL *does* have Disney over a barrel to the tune of $17 billion. That's a minimum price tag for what is at risk for Disney, and we all know the odds that they are going to abandon FL in the near term, are slim to none. SotS references aren't too popular anymore, but I feel like this is an opening for FL to tell Disney, "Please, don't throw me into the Briar Patch!" Where basically FL can do whatever they want, and Disney will ultimately roll over because they have at least $17 billion over 10 years tied up. 10 years from now the current crop of politicians will have largely moved on, due to FL term limits and normal attrition, so if per chance Disney grows a backbone for longer term investment, they won't have to deal with the consequences of major company pulling out. "Someone else's problem," like all the other problems the state is facing.

Iger and Disney were probably hoping the number would sound impressive enough to get people's attention (large number problem, again), but I think it's more revealing about the chains attaching Disney to FL (not the other way around) than they intended to be. A moment like how Walt accidentally showed he knew far too much about Central FL, when he was trying to demonstrate how silly the idea was.

 

[castlecake2.0]

I don't know, my first thought was that maybe it was a hint about how many CA jobs Disney wishes to eventually relocate to FL. Nothing to do with park capacity at all.

My first question about the $17 billion was, "How much of that is already baked in, to support existing operations?" The problem with large numbers is that because they are incomprehensible, just on their own they sound sexy, and something big must be on the horizon. When it's just the extent of the existing inertia.


Florida actually. Which would be WDW, Cruise operations, Lake Nona project, and whatever else Disney might choose to do in FL.

While Iger, make some strong good statements yesterday, the $17 billion fell flat to me. More an acknowledgement that, to some extent FL *does* have Disney over a barrel to the tune of $17 billion. That's a minimum price tag for what is at risk for Disney, and we all know the odds that they are going to abandon FL in the near term, are slim to none. SotS references aren't too popular anymore, but I feel like this is an opening for FL to tell Disney, "Please, don't throw me into the Briar Patch!" Where basically FL can do whatever they want, and Disney will ultimately roll over because they have at least $17 billion over 10 years tied up. 10 years from now the current crop of politicians will have largely moved on, due to FL term limits and normal attrition, so if per chance Disney grows a backbone for longer term investment, they won't have to deal with the consequences of major company pulling out. "Someone else's problem," like all the other problems the state is facing.

Iger and Disney were probably hoping the number would sound impressive enough to get people's attention (large number problem, again), but I think it's more revealing about the chains attaching Disney to FL (not the other way around) than they intended to be. A moment like how Walt accidentally showed he knew far too much about Central FL, when he was trying to demonstrate how silly the idea was.

He specifically said “Walt Disney World”, not Florida.

 

[hopemax]

He specifically said “Walt Disney World”, not Florida.

I see when I click through, but when I look at the first post in this thread, which I double checked. The summary says "state of Florida".

This is @wdwmagic 's fault

 

[capsshield]

I think they made a very political decision with the announcement of 17 billion in spending, but I also think they see the writing on the wall and realize they must do this. So they used the occasion to set a new direction and relationship with the state of Florida. 16,000 jobs translates into 320,000 man hours and that equals a lot of additional tax revenue.
Behind the scenes I think they have been trying to figure out how to fix a lot of problems.
Capacity issues, competition issues and growing revenue issues.
They must expand the secondary parks to entice visitors away from the magic Kingdom and the competition. They also need to expand the magic Kingdom to raise guest satisfaction because the crowds are overwhelming.

I expect we will see each park get something big but it will be staggered.
I also believe we will see Dvc expansion and transportation improvements.
Infrastructure will also get a big push with anything that will reduce costs.

Disney is not going to spend 17 billion without expecting to get a return on its investment, so all of the plans that go forward will have stores restaurants and Dvc kiosks attached.
Mini lands and themed resorts.
Hopefully we see a lot of positive growth and perhaps another park 10 to 15 years down the road.

 

[bcoachable]

He’d be 80

Summer redstone was 90
Rupert Murdock is 90


It’s an “old man’s game”

I may personally buy Mr. Murdock and myself a Lightning “Lame” for Tron on my next visit. He’s gotta check this thing out!!

 

[JusticeDisney]

Both of you…hit the button. We’ve been over this. I fixed it for you.

And advice: see a Buddhist to work on that grudge thing

Hahahaha! The guy complaining about a grudge thing is the guy following others around all day long solely to try to call them out! Ohhhhhhh, the irony (look it up)!

Everyone here is hip to your game. All you do is argue with anyone and everyone who disagrees with you. And you have zero ability to have a debate without talking down to others, as if you are somehow superior. Trust me, your posts demonstrate that you are anything but. You are like dealing with a middle schooler.

Now, go ahead and keep spamming the board with your incessant condescension. Or, as a very unwise man recently said, just hit the button.

 

[BrianLo]

There is an irony in questioning willingness to spend in the swamps given what has opened in the last 10 years.

I really can’t complain about the amount spent. I may question what was approved, but I can’t claim they spend too little at WDW.

Plus, even if I considered complaining, I’d be reminded that many of my family’s favorite rides have opened since 2013…

When you strip out the headline number as @lentesta did, it basically equals a similar decade to the past 2012-22 run.

Which partially I think sets an expectation that it isn't another park, but it's also not nothing. Yes there will be more spent on DVC and resort infrastructure.

But there is a key difference in this math. The job gains is suggestive that most of their spending this decade is targeted towards expansion. I too think they actually did a good job in the last ten years, it was just drowned out by the wastage of ride replacements and rotting infrastructure that desperately needed to be dealt with.

Yes a couple of key rides need to be overhauled, but I think the decade of tearing apart the hub and ticketing booths for every park is over. Or flattening E-tickets that just needed love. Heck, we minimize Disney Springs in that retroactive capital expenditure math. All signs do point towards grounded optimism.

 

[doctornick]

There is an irony in questioning willingness to spend in the swamps given what has opened in the last 10 years.

I really can’t complain about the amount spent. I may question what was approved, but I can’t claim they spend too little at WDW.

Plus, even if I considered complaining, I’d be reminded that many of my family’s favorite rides have opened since 2013…

This is my basic take. If they really to invest $17B in the next decade, they should match or even somewhat exceed the builds of the past decade. And I for one have been happy with what they done in recent years. Just keep up that same pace.

(And do more additions compared to replacements)

 

[doctornick]

Someone will correct me but I’m sure AK Lodge is the only deluxe that only offers buses as an option. Scandal

Should at least have a walking path option to DAK.

 

[networkpro]

I may personally buy Mr. Murdock and myself a Lightning “Lame” for Tron on my next visit. He’s gotta check this thing out!!

Dont blink or it'll already be over.

 

[networkpro]

But there is a key difference in this math. The job gains is suggestive that most of their spending this decade is targeted towards expansion. I too think they actually did a good job in the last ten years, it was just drowned out by the wastage of ride replacements and rotting infrastructure that desperately needed to be dealt with.

And its totally aspirational as to exactly where all that labor is going to magically appear from as they compete for bodies with Universal and the rest of the Orlando market.

 

[marni1971]

Let’s do a sentence breakdown, shall we?

“Walt Disney plans”
Full stop. Bob-committal
“To spend $17 billion in the state of Florida”
Ok…we’re good there
“Over the next 10 years”

And how much is new capex?

 

[Vinnie Mac]

I would be one that would still say I’ll believe it when I see it. Just like the Main Street Theater, Mary Poppins attraction and observation deck building at Epcot, Hyperion Wharf, Reflections Resort, etc etc

I think you have a point still but let's not pretend like COVID wasn't the reason for the death of 3 of the 5 projects you mentioned.

 

[Sirwalterraleigh]

And how much is new capex?

What do you think?

 

[Trauma]

I think you have a point still but let's not pretend like COVID wasn't the reason for the death of 3 of the 5 projects you mentioned.

I think you mean COVID was the excuse.