Overview
- Disney CFO Hugh Johnston, speaking Thursday at the MoffettNathanson conference, said U.S. parks run near full capacity and real attendance growth requires building more space.
- Johnston said the company uses promotions to keep parks filled without overcrowding and will not pack in more guests because it harms the on‑site experience.
- Over a three to four year window, he expects attendance to rise and prices to increase as new capacity opens, noting big additions tend to fill quickly without discounts.
- Disney is several years into a roughly $60 billion buildout for parks and cruises, including Villains Land and Piston Peak at Magic Kingdom, a Monsters, Inc. land at Hollywood Studios, and Tropical Americas at Animal Kingdom targeted for 2027.
- He reported no current weakness in bookings and improving international visitation, which suggests Disney will keep leaning on premium pricing until new lands help spread crowds.