The Walt Disney Company DIS is reportedly poised to unveil the world's first Zootopia-themed land at the Shanghai Disneyland Resort, marking an expansion in its global theme park portfolio, tapping into the growing demand for domestic travel in China.
Slated to open on December 20, this new attraction is inspired by the successful animated film "Zootopia" and promises to feature landmarks recognizable from the movie, alongside themed dining experiences, reported Bloomberg.
A key highlight is the 'Hot Pursuit' ride, which takes visitors in a high-speed police chase adventure with characters Judy Hopps and Nick Wilde.
This announcement follows closely on the heels of the world's first 'Frozen'-themed land opening in Hong Kong Disneyland, the report noted.
Amid significant shifts in the film and television industry and challenges faced by its streaming services, Disney plans to nearly double its investment in theme park and resorts business, earmarking $60 billion over the next decade for further development and expansion, the report added.
In the context of economic uncertainties, Chinese consumers are increasingly favoring domestic travel over costly international trips and experiential activities, including theme park visits, have seen a notable uptick in popularity.
Shanghai Disneyland Resort, in particular, has benefited significantly from this trend. Opened in 2016 with an investment of $5.5 billion, Shanghai Disneyland is a collaborative venture, with Disney owning 43% and the remaining held by the state-owned Shanghai Shendi Group Co.
Price Action: DIS shares are trading higher by 0.45% at $92.92 in premarket on Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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