Disney World Resort will close in 2020, and the amusement park is expected to be sold off.
Walt Disney Imagineering and Walt Disney Parks and Resorts announced the closures at the company’s shareholders meeting on Wednesday, and investors will be able to sell their shares of the company this summer.
Disney World has had a difficult run in recent years, losing millions of dollars in a bid to sell off some of its attractions and build a resort in Florida.
While the parks and resorts have made some positive steps forward, including a planned new amusement park in California and an expansion of the parks in the Philippines, they have been a tough sell.
This past spring, the company announced it was moving to close all of its parks and resort in 2019, a move that prompted many to wonder whether Disney could close its entire theme parks and theme parks in 2019.
However, the stock price of Walt Disney’s theme parks was up almost $1,000 in the months leading up to the announcement.
What to know about Walt Disney and the company: Disney has struggled financially since the company went public in 2002, but the company is on the right track after a year in which the company has posted double-digit quarterly profit growth.
Why Disney is moving to sell all of the Disney parks and parks in 2020: As we reported earlier, the Walt Disney Company is closing the parks, resorts and parks, which will see the park and resort assets sold to fund construction of a new theme park in Florida, a new park in the Pacific Northwest, a resort and theme park on the South Side of Chicago, a theme park and theme hotel in Mexico and a new amusement complex in Japan.
Disney said that it was closing all of Disney parks in 2026 and 2021, but there is still a year left in the plan.
The company also plans to expand the parks by 25% by 2019 and the resorts by an additional 20%.
The company said that the plan to sell the parks was “not driven by the expectation of the park operator to generate net income from operating activities and for the park owner to recoup its investment in the parks.”
It also noted that there were no new financial commitments made during the planning phase of the plan, but it does not expect any new financing commitments at the end of 2019.
Walt Disney said it will invest $3.5 billion to create a new world-class theme park, a 10-acre resort in the United Arab Emirates and a theme-park in Malaysia.
The new parks will be built to the highest standards of theme- park design and production and will have a capacity of more than 40,000 people.
The company is also looking to build a new resort in Indonesia, which has not had a major theme park since 1996.