Disney continues to expand its empire on the seas with the imminent arrival of its sixth cruise ship, the Disney Treasure, which will make its first voyage on December 21. This launch marks a key point in Disney’s growth strategy, which plans to add seven new ships to its fleet by 2031. This move is part of the company’s experiences division, which also includes its iconic theme parks.
Fleet expansion and high financial expectations
He Disney Treasurewith capacity for 4,000 passengers and 1,555 crew members, arrives after a decade of hiatus since the launch of the Disney Wish in 2022. Next year, two new ships, the Disney Destiny and the Disney Adventurewill also join the fleet, with five more launching over the next six years.
According to Morgan Stanley, these cruises are highly profitable thanks to their ability to maintain high occupancy levels and generate high revenue per room, driven by family preference.
With prices for its maiden voyage starting at $8,511 per person – and all rooms sold out online – analysts see this initiative as a profitable bet. “It’s a business with significant margins and an important contribution to Disney’s growth,” said Morgan Stanley analyst Ben Swinburne.
Disney Treasure.
The appeal of themed experiences
Disney CEO Bob Iger highlighted that Treasure incorporates the attractions, characters and narratives of theme parks, offering consumers a more economical alternative to visiting the parks. This approach, along with a growing preference for all-inclusive vacations, reinforces the appeal of cruises as an integral part of Disney experiences.
Growth and profitability prospects
Although Disney does not break out specific financial metrics for its cruise ships, Morgan Stanley analysis projects an increase in capacity from 5,500 to more than 10,000 staterooms by 2026. This would allow cruise revenue to more than double between the end of 2024 and 2027. .
The company is also looking to improve operating margins, which before the pandemic ranged between 20% and 25%. Despite the upfront costs associated with fleet expansion, these margins are expected to return to high levels, positioning cruises as a key revenue and profitability driver for Disney.
The strategic role of cruises in the future of Disney
According to estimates, in 2032 cruises could generate revenue of $9 billion and operating income of $2.3 billion, figures comparable to the current performance of Disney’s sports segment, which includes ESPN. This highlights the growing relevance of cruises in the company’s financial and growth strategy.
“Understanding the timing and contribution of cruise launches is crucial not only to Disney’s future results, but also to the perception of its stock in the market,” Swinburne concluded. With Disney Treasure leading this expansion, Disney is charting a clear path to maritime success.
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