Over the week, Christine McCarthy, senior executive vice president and chief financial officer of The Walt Disney Company, spoke at several banking conferences about the company’s position and its ongoing projects. During today’s Bank of America Virtual 2020 Media, Communications and Entertainment conference, McCarthy spoke for various construction projects that have been prioritized at Disney parks in the wake of recent changes and economic difficulties due to COVID-19 theme park closures Has been given.
McCarthy confirmed that the company would continue to invest in its theme parks, given the high returns on these projects. That being said, investment spending would be a “priority” to continue the projects already underway. Among the projects she listed were Star Wars: Galactic Starcruiser At Walt Disney World, plus Avengers Campus And Mickey & Minnie Runway Railway At the Disneyland Resort.
While other major projects such as EPCOT Reimaging were not mentioned, it is worth noting that there is still active construction going on throughout the park, with Guardian of the Galaxy: Comic Rewind, The Play well underway! The pavilion, the entrance to the park, and the innovation of innovations. However, in July, it was confirmed that both the United Kingdom Pavilion’s Spaceship Earth and the mass of the Mary Poppins-themed section at EPCOT were postponed indefinitely.
Bob Weis, president of Walt Disney Imagineering, recently revealed that many projects will proceed in “stages”:
While Disney has been able to move forward on several projects, such as the Avengers campus at both California Adventure and Disneyland Paris, based on where we were in development, there are others that will be rolled back in phases – such as Mickey and Minnie’s Runra Railway and TRON —And some that are long term that we will need more time to assess.
Earlier this year, it was announced that CAPEX would have a $ 900 million shortfall in projected spending for FY15 to postpone construction and renovation projects during the closure of Disney parks worldwide reason. The number recently dropped to $ 700 million due to lower spending at domestic Disney resorts, including Walt Disney World and Disneyland Resort.
Reservation for Star Wars: Galactic Starcruiser was asked to return “later this year” in February. The immersive “Star Wars” hotel experience was originally slated to open in 2021, but was not indicated for the opening of any specific month, the delay could mean it opens in the latter part of the year is. The Avengers Campus, delayed from its opening July 18, could also open in 2021, if not sooner. Mickey and Minnie’s runway railways were recently announced to be pushed back to full year 2023.