Disney is all in on cruise ships. Here's why investors should care.

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Disney (DIS) is doubling down on cruise ships.

The company's sixth ship, the Disney Treasure, will take its maiden voyage on Dec. 21, and seven additional ships are expected to launch by 2031. The ships, part of Disney's experiences segment, which also includes its theme parks business, represent a key area of growth that's rapidly expanded in recent years.

Prior to the Treasure, Disney unveiled its sister ship, the Disney Wish, in 2022 after a decade of no new announcements. But with two ships setting sail in late 2025 — the Disney Destiny and the Disney Adventure — and five additional vessels to follow over the next six years, Wall Street analysts say it's time to start paying attention.

"We think that these businesses have a higher return on invested capital than your average non-Disney cruise business," Morgan Stanley analyst Ben Swinburne told Yahoo Finance, citing high occupancy levels and high revenue-per-room rates given most guests on the cruise ships are families.

The Disney Treasure can carry 4,000 passengers and 1,555 crew members. Prices for the maiden voyage start at $8,511 per person. All rooms are currently sold out online.

Read more: Best credit cards for Disney vacations (2024)

"That's obviously a recipe for a very profitable investment," Swinburne continued. "We think it's a positive for the company that they're investing to grow this business."

In an interview with ABC's "Good Morning America" last week, Disney CEO Bob Iger noted the Treasure recreates rides, characters, and storylines from Disney's theme parks, as more consumers opt for the mostly all-inclusive cruise ship vacation in place of the often pricier stay at the parks.

'Very important to the stock'

Investors have recently grown concerned over a potential slowdown in Disney's theme parks business as prices rise and demand wanes. But Disney CFO Hugh Johnston said earlier this month that operating income within the experiences division — which includes parks, cruise ships, and consumer products — is expected to rebound next year, with growth estimated between 6% and 8%.

He specifically cited the launch of the Treasure ship as a catalyst for that growth.

In a separate note to clients last month, Swinburne estimated cruise capacity will increase from 5,500 staterooms today to over 10,000 by 2026, "positioning Disney cruise revenues to more than double" between the end of this year and the end of 2027.

NEW YORK, NEW YORK - NOVEMBER 19: A view from Pier 60 of the Disney Drone Light Show celebrating the christening of the Disney Treasure cruise ship on November 19, 2024 in New York City. (Photo by Craig T Fruchtman/Getty Images)
Cruising for growth? A view from Pier 60 of the Disney Drone Light Show celebrating the christening of the Disney Treasure cruise ship on Nov. 19, 2024 in New York City. (Photo by Craig T Fruchtman/Getty Images) · Craig T Fruchtman via Getty Images

Disney does not break out financial metrics for its cruise ships, although Swinburne and his team recently uncovered disclosures from the UK-based subsidiary, Magical Cruise Company, which revealed key insights.