“It's a 25-plus margin business and has been for an extended period of time, has terrifically high guest satisfaction scores, which create layers of advantage, would suggest we should be able to sustain high margins and high returns on investment.”

In context

“Kannan Venkateshwar with Barclays. Kannan Venkateshwar: In terms of the theme park business, maybe Hugh or Bob, if you could talk about the growth framework, which anchors your CapEx plan, it's obviously a pretty significant plan over the next decade. And the business has grown over mid-single digits for a very long period of time. How much upside do you see to this trajectory over the investment horizon? And then, Bob, from a succession planning perspective, you've obviously been highly engaged with the Board on this. Could you talk about what your goal is in terms of the hand off? What do you hope to achieve in your tenure before the next CEO takes over? Hugh Johnston: Okay. I'll take the first one. Regarding the investment in the parks, you know the financials of that business well. It's a 25-plus margin business and has been for an extended period of time, has terrifically high guest satisfaction scores, which create layers of advantage, would suggest we should be able to sustain high margins and high returns on investment. With the business with that profile, you invest in it. We know there are lots of opportunities to continue to grow attendance, both domestically and internationally. And the cruise business, frankly, is one that has an enormous number of opportunities for us over time. And that is why we're leaning, we're heavily into that business. So we're not investing capital, obviously, to achieve poor returns. We expect to get excellent returns out of the business, in particular in cruises, given the margin profile of the business, and the fact that it's got the highest guest satisfaction scores in the company. This leads just to conclude, this is a business with a lot of runway left in it, and that will deliver great returns to our shareholders. Robert Iger: Regarding succession, Kannan, as we've”