Disney plans major expansion for California parks, report says

Walt disney (NYSE: DIS) has yet to reopen its California theme parks, but the company is still busy with plans to expand Anaheim Disneyland. The company worked with city officials on a long-term plan to develop the complex and help propel the city’s economic recovery from the impacts of the pandemic, according to the Orange County Register.

DisneylandForward is a corporate project to work with the city to update the resort district master plan to allow for new development. While the company isn’t looking to add land, the Disney team will ask city officials for more flexibility on how it develops land that had already been approved for specific uses, according to the report. Disney may look to build on its current footprint with additional theme park attractions, as well as add hotels, retail, dining and entertainment to current resort ownership.

Image source: Walt Disney.

More immediately, Disney plans to reopen Disneyland Park after the one-year pandemic shutdown. Disneyland Park and Disney California Adventure Park plan to reopen on April 30, 2021. Reservations will be required and capacity will be limited during the initial reopening phase. Entry will also initially be limited to residents of California only.

Disney continues to direct its business around pandemic disruption. Its media and entertainment segment this week announced new details for upcoming Walt Disney Studios film releases. The release of several films has been delayed until August and beyond, while Cruel and Black Widow will be launched simultaneously in theaters and on the Disney + streaming service.

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