X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LOS ANGELES-After spending millions of “real-life” dollars, Walt Disney Co. says it will close its two-year-old DisneyQuest facility in Chicago and has canceled plans to open several similar virtual theme parks around the world.

The DisneyQuest concept was launched in 1998 as a way of using technology to bring the excitement of Disney’s theme parks to people who didn’t have the time or money to visit the parks themselves. The company planned to open up to 20 of the indoor theme parks, which would feature computers and other cutting-edge technology to make visitors feel like they were actually riding popular attractions at DisneyWorld or Disneyland.

Though the Burbank-based entertainment giant will keep operating its DisneyQuest facility in Orlando, FL, the company says it will close its Chicago facility on Sept. 4 and scuttle plans to build complexes in other parts of the world. A Disney spokesman says the company will try to move some of the Chicago park’s 270 employees to its local ESPN Zone restaurant or one of its 14 area Disney Stores.

“Although the concept has been a great creative success and exceptionally well-received by our guests, we have concluded that the expected returns on the investment required to achieve DisneyQuest’s cutting edge technology standard in a stand-alone environment will not meet the company’s financial requirements for this type of business,” Randall Baumberger, SVP of Disney Regional Entertainment, says in a statement announcing the end of the company’s plans.

Baumberger says people who purchased annual passes or advance tickets to the Chicago complex will be issued refunds.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.