Disney is adding another new growth business

Article Excerpt

Walt Disney’s strong and trusted brand has let it successfully launch into new areas over the years, from cruise lines to Disney+ streaming. Now, the company is targeting Disney-themed residential communities as a new source of future growth. WALT DISNEY CO., $138.14, is a buy. The company (New York symbol DIS; TSINetwork Rating: Above Average) (www.disney.com; Shares o/s: 1.8 billion; Market cap: $244.3 billion; No dividend) is now launching a new business that will let it enter the real estate market. It will do this by developing residential communities for its most avid fans. “Storyliving by Disney” will create master-planned neighbourhoods designed by members of the company’s research-and-development team—“Imagineers.” The first community is set for Rancho Mirage, California, where Walt Disney himself once owned a home. The Rancho Mirage neighbourhood will cover roughly 24 acres and include lagoons as well as Disney entertainment and activities. The 1,900-housing-unit neighbourhood will also offer shopping, dining and a beachfront hotel. The company is already scouting additional locations in the…