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Disney plans to expand California theme park

Date: 2021-04-03

The Disney Company announced on Thursday that it plans to expand its Anaheim, California, property, adding attractions across the street from the existing theme park. The project, called "DisneylandForward" (DisneylandForward), will last for several years, and the cost or target date has not yet been determined.

   The plan includes a possible immersive theme park and a "new entertainment destination", which may include theme parks, hotels, restaurants, and other entertainment facilities.

   Disney stated that it will start discussing this plan with local officials, but will not seek any public financing. In the past, Disney has asked for tax cuts and other incentives when building projects.

   More than a year after California parks were closed due to the new crown epidemic, Disney is seeking to switch to a growth model.

   The company is seeking to recover from this pandemic that has had a particularly severe impact on its California business. Since March last year, Disney California Park has been closed. The company plans to reopen the park on April 30, but will comply with capacity restrictions and other epidemic-related preventive measures.

   With the acceleration of vaccination, some analysts are more optimistic about Disney. Standard & Poor's Global raised the company's rating outlook from "negative" to "stable" on Thursday.