“We Are Fully Committed To Seeing That Project Through” – Disney’s Abu Dhabi Is Still In Progress

It’s been over a year since Disney announced a new theme park coming to Abu Dhabi, so we won’t blame you if you forgot.

©Disney

Well, at the Walt Disney Company’s earnings call yesterday, mentions of Abu Dhabi came up in a question from the Q&A portion of the panel. Here, Chief Financial Officer Hugh Johnston updated everyone on the project.

Abu Dhabi in the United Arab Emirates (UAE) will be the company’s seventh landmark theme park in collaboration with Miral, an Abu Dhabi company that creates destinations and experiences. In this collaboration, Miral will fully develop and build the new resort while Disney and its Imagineers will lead creative design and operational oversight.

©Disney

The earnings call livestream included a Q&A portion, which is where CFO Hugh Johnston answered the pressing question: “How is the variability of fuel costs and the Middle East conflict impacting Disney?” Not only does this question focus on the rising fuel costs affecting the industry, but it also touches on the recent travel advisories from the US and Europe to the UAE.

©Disney

Johnston began his answer saying, “Forward bookings at Walt Disney World and Disney Cruise Line are healthy, but not immune to macros and fuel. We have seen a weaker consumer in Asia in Shanghai and Hong Kong in Q3 and Q4. We now expect the experiences segment to deliver growth at the high end, escalating in the 53rd week.”

Castle of Magical Dreams at Hong Kong Disneyland

Moving toward the Abu Dhabi portion of the question, Johnston exclaimed, “Abu Dhabi is being designed with a long-term view. We continue to believe in the rationale behind the project, and we are fully committed to seeing that project through.”

©Miral

The Abu Dhabi theme park will be located on Yas Island on the waterfront. According to Disney, the theme park “will combine Disney’s iconic stories, characters and attractions with Abu Dhabi’s vibrant culture, stunning shorelines, and breathtaking architecture.” We’ll keep you updated with more announcements about Abu Dhabi as they come out, so stay tuned to the Disney Food Blog for more.

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