Parks and Resorts

WHERE MAGIC KNOWS NO BOUNDS

Walt Disney Parks and Resorts continues to develop a range of new, branded travel and leisure businesses crafted to appeal to the booming global vacation market.

HONG KONG DISNEYLAND RESORT

As the flagship for the Disney brand’s expansion into China, Hong Kong Disneyland is proof that Disney creativity truly crosses borders and cultures. Guests from Hong Kong, mainland China and throughout Asia have given the park and hotels satisfaction ratings that are among the highest for any Disney resort. Three new Tomorrowland attractions, expanded admissions programs and more seasonal events will continue to promote Hong Kong Disneyland’s development in this region of the world.

DISNEY CRUISE LINE

Disney Cruise Line continues to explore new horizons with itineraries that appeal to repeat Guests and first-timers alike.

The Disney Magic launched a seven-night Caribbean cruise with visits to Costa Maya, Cozumel and two visits to Disney’s private island, Castaway Cay. And the Disney Wonder embarked on 10- and 11-night Southern Caribbean itineraries with ports of call in Barbados, St. Kitts, St. Thomas, St. Lucia, Antigua and Castaway Cay.

During summer 2007, Guests will sail from Barcelona to eight ports of call in Spain, Italy and France on four 10- and 11-night cruises, and visit some of the most historic and famous places in the world, including Rome, Florence, Pisa, Marseilles and Cannes along the way.

ADVENTURES BY DISNEY

Adventures by Disney, a story-based guided group vacation experience, features smallgroup activities in authentic settings highlighted by Disney’s uncompromising attention to detail. Debuting in 2005 with trips to Hawaii and Wyoming, this family-friendly program grew in 2006 with an expanded list of itineraries to several popular international destinations, including London, Paris, Italy and Costa Rica. In 2007, additional destinations will include France, England, Spain, Ireland, Austria and the Czech Republic.

Key to the experience is Disney’s signature touch for service, comfort and convenience. Immersed in the history and wonder of each destination, Guests reconnect as a family and build lasting memories together, while our Adventure Guides take care of all the details. The result is a seamless, effortless and alwaysfresh family adventure.

DISNEY VACATION CLUB

In 2006, Disney Vacation Club (DVC) membership grew to more than 100,000 families from all 50 states and 100 countries investing in flexible, affordable Disney vacation experiences.

DVC features a portfolio of seven “Home Resorts” (five at Walt Disney World Resort, one on Florida’s Atlantic Coast and one on South Carolina’s Hilton Head Island). The program’s flexible vacation point system lets members customize their vacation, choose travel dates, accommodation type and length of stay.

Due to strong demand, capacity is being expanded at Disney’s Saratoga Springs Resort & Spa in Florida, where a third phase of construction is currently underway. And in late 2006, DVC announced the addition of its eighth resort – Disney’s Animal Kingdom Villas, which is expected to open its first phase in fall 2007. As demand continues to grow, the DVC experience can be extended to any of the world’s most popular and appealing destinations, providing significant growth potential for this fastgrowing business.