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Walt Disney (NYSE:DIS) said on Tuesday that it will start to allow visitors to Walt Disney World in Florida the ability to reserve rides up to one week in advance in an effort to cut down on long wait times.
Shares of the media giant rose fractionally in afternoon trading.
Guests who stay at Walt Disney World’s hotels will be able to reserve rides seven days ahead, while other guests can reserve their space three days in advance. The new changes go into effect July 24.
At present, Disney World guests have to wait until 7 a.m. on the day of the visit to sign up for Lightning Lane.
Separately, Disney has rebranded its Genie+ rider reservation system as Lightning Lane Multi Pass. When guests purchase the pass, they are able to select three Lightning Lane selections in a single park, letting them go to shorter lines.
The aforementioned Lightning Lane will now be known as Lightning Lane Single Pass will allow guests to reserve spots at a few of the more popular rides in Disney’s theme parks.
The changes are part of Disney’s plan to invest $60B in its Parks and Experiences business over 10 years, as outlined in September 2023, nearly double that of the prior 10-year period.
At the time, Disney said the investment would include “expanding and enhancing domestic and international parks and cruise line capacity” and prioritizing projects anticipated to generate strong returns.
Earlier on Tuesday, Goldman Sachs initiated coverage on Disney and several other media companies, highlighting Disney’s exposure to its parks business as a “competitive moat.”