Disney World Fifth Gate or Not: Does Anyone Really Know?

 by Ray Keating

News/Commentary

DisneyBizJournal.com

June 5, 2024

 

A unanimous vote on June 5 by the Central Florida Tourism Oversight District board gave an initial thumbs-up to a proposed $17-billion Walt Disney World expansion plan. Disney fans want to believe that this will mean the opening of a fifth park – or fifth gate – in Disney World, though Disney has made no such declaration.

Final approval for the development plan requires a second vote on June 12, according to a report from the Orlando Sentinel.

 

Disney hasn’t served up any real details on their spending plans, with Woody Rodriguez, director of external affairs for Disney Parks, Experiences and Products, being quoted, “The development agreement will enable us to continue to invest significantly in the district.” In Disney’s most recent earnings call, CEO Bob Iger danced around the question.

 

Speculation about a fifth park lies with the fact that Universal Orlando’s Epic Universe opens in 2025, and many assume that Disney will need to respond in some way. According to the Sentinel report, the agreement covers 17,300 acres owned by Disney, and “allows a maximum of five minor theme parks, such as a water park, nearly 1.3 million square feet of office space, 1.7 million square feet of restaurant/retail space and 53,467 hotel rooms.”

 

This deal, of course, represents quite a shift in the relationship between Florida Governor Ron DeSantis and Disney – from one featuring politics, confrontation, a state takeover of the Reedy Creek Improvement District, and lawsuits, to one of economic cooperation. According to a Business Insider article published at Yahoo News, Stephanie Kopelousos, administrator for the Central Florida Tourism Oversight District, said, “With Walt Disney World's substantial investments, we anticipate economic growth, job creation, and support for local businesses, alongside environmental stewardship and workforce housing initiatives, benefiting Central Florida's community.”

 

Dennis Speigel, CEO and founder of International Theme Park Services, was quoted in another report, “What you’ve seen is a huge kiss and make up between Florida and Disney.” Indeed, about Disney’s expansion plans, DeSantis said, “It’s going to be a huge game changer for this region. I got to think Disney would have an interest in maybe offering another one. The district will be ready to negotiate something to be able to be good for the state of Florida, be good for jobs, be good for all those things.”

 

Golly, it’s amazing how things can change after a governor drops out of the race for president.

 

Speigel is one of the industry people who sees a fifth gate coming, declaring, “The fifth gate will be the most highly technologically driven attraction park in the world. And it has to be because it has to eclipse Universal Epic Universe.” He predicts a tab of $5 billion to $6 billion for such an endeavor. Other watchers, however, see Disney expanding current parks rather than opening a new one.

 

At this point, only Disney knows if a fifth gate will be opened at Disney World, and it’s not even clear that they have settled on anything just yet. 

 

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Ray Keating is the editor, publisher and economist for DisneyBizJournal.com; and author of the Pastor Stephen Grant thrillers and mysteries, the Alliance of Saint Michael novels, and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.

 

The views expressed here are his own – after all, no one else should be held responsible for this stuff, right?

 

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