Tokyo Disney Resort Operator Plans $2 Billion Cruise-Services Project — Update

By Kosaku Narioka

The operator of Tokyo Disney Resort plans to spend about $2 billion to start a cruise-services business in Japan, part of efforts to diversify revenue streams.

Oriental Land said Tuesday that it would invest about 330 billion yen ($2.05 billion) on shipbuilding and other project preparations.

The company said it signed a license agreement with Disney Enterprises and plans to start offering cruise services around Tokyo in 2028. Shipbuilding is expected to begin in the fiscal year starting in April 2025.

The cruise services offer spacious accommodations, immersive experiences with Disney characters, a wide range of dining options, pools and other recreation activities, it said.

Oriental Land said it expects the cruise market in Japan to grow and wants to capture that using its strong relationship with Disney and its experience in running theme parks and hotels.

Disney cruises first started in 1998 in the U.S. Five ships are currently in operation. Services are also expected to start in Singapore.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

July 09, 2024 04:21 ET (08:21 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.