The Walt Disney Company announced a $1 billion investment in the Orlando theme park this week, giving it a significant boost in its efforts to attract and retain guests.
The investment comes after the Walt Disney World Resort and the Disney California Adventure both saw significant decreases in visitor numbers over the past year.
The parks are still growing, but they’re not growing fast enough for the company to be profitable.
The investment is a good move for Disney, which has seen its stock rise more than 10% this year.
“The Orlando theme parks are one of the most popular destinations in the world, and we are thrilled that the Disney brand will be able to remain a key contributor to the Orlando economy,” Disney CEO Bob Iger said in a statement.
Disney plans to build the Orlando park on the site of the former Walt Disney Resort on Walt Disney Springs in a large expansion of the property.
Disney also plans to open another Disney California Adventures resort at the site in 2018.
The $1.6 billion investment will fund a $10 billion plan to expand the theme parks in Orlando and California, with additional investment to come.
Walt Disney World has been growing steadily in visitor-count since it opened in 1955.
The theme parks, which are now considered the world’s largest, are home to attractions like the Jungle Cruise and the Epcot Resort.