Walt Disney Co. (DIS) has announced plans to double its fleet of cruise ships by 2031.
In December of this year, the Disney Treasure cruise ship will make its maiden voyage from Florida to the Caribbean, becoming the sixth ship in the company’s fleet.
As with all Disney cruise ships, the Treasure features themed dining, curated lounges, and live entertainment.
Executives at Disney say the new Treasure vessel is the start of an aggressive expansion of its profitable cruise line business, with plans to double its fleet to 12 ships by 2031.
Disney cruises are part of the company’s experiences division, along with its theme parks, resorts, and consumer products.
According to the company’s most recent financial results, the experiences division posted record revenue and profit for fiscal 2024, with revenue up 5% to $34.15 billion U.S. and operating income up 4% to $9.27 billion U.S.
Revenue growth in the experiences unit was the strongest of any Disney division, and the company expects to see 6% to 8% profit growth in its current fiscal 2025 year.
Despite having a small number of cruise ships, Disney has become a leader in the family cruise segment, attracting families with young children.
Disney is also able to charge premium prices for its cruises as it sells the brand to families.
Disney’s new Treasure ship offers seven-night cruises starting at $6,994 U.S. for a family of four
The stock of Walt Disney has gained 24% so far this year to trade at $112.42 U.S. per share.
