Disney is set to invest a massive $17 billion in expanding the Walt Disney World Resort in central Florida, with plans that may include the creation of a fifth major theme park.
The deal, made with the Central Florida Tourism Oversight District (CFTOD), establishes a 15-year plan for significant improvements in the area. CFTOD Vice Chair Charbel Barakat praised the agreement for its potential to boost economic development and provide stability for the region.
Jeff Vahle, president of Walt Disney World Resort, expressed excitement about the investment, highlighting its potential to support Florida’s economy and enhance the guest experience at Disney World.
Although detailed plans are not yet available, the investment could result in two additional minor parks, a 30% increase in hotel rooms to around 53,000, and a 20% expansion in retail and dining spaces.
This expansion comes as Disney’s strategic response to Universal Orlando’s new Epic Universe, set to open in 2025. Park blogger John Saccheri noted the ongoing competition between Disney and Universal, predicting that this rivalry will lead to bigger and better attractions for visitors.
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