Disney Parks could lose up to $21 Billion due to shutdown
Disney Parks has spoken. And they estimate that they could be facing a loss worth twenty-one billion dollars because of widespread lockdowns and pandemic due to coronavirus. Since mid-March, several businesses and other theme parks have temporarily shut down in order to contain the spread of coronavirus.
Management at Disney Parks initially expected the lockdown to continue for a month. But, the virus has lasted much longer than anticipated. Anyway, some Parks are preparing to open up this summer. But others are planning to remain shut till January 2021. And as expected, the year 2020 has been a bust for all of us. If only we could delete this year from our lives!
According to the Orange County Register, Disney theme parks
“face a potential $21 billion revenue loss through 2022 due to the ongoing coronavirus closures.”
Many analysts have been estimating the economic recession that will take place of a worldwide lockdown. And they have said:
“economic recession projected to follow”. Investors are underestimating the lagging recovery nature of Disney’s theme parks. Disney’s overall theme park revenues could be $21.7 billion below 2019 fiscal year levels,” which is enough to “pay for Shanghai Disneyland four times over. The current pandemic impact on the travel and hospitality industries is much more severe.”
New guidelines being implemented when Disney Parks reopen
Disney Parks is working on guidelines that all visitors will have to follow. These guidelines are being put into execution so that everyone feels Disney Parks are a safe and healthy environment to go to.
Guidelines will include more sanitization stations, mandatory face masks for all, limiting the Parks’ capacity, and installing checkpoints that will screen temperatures for everyone in the parks.
However, it will take substantial time before any of us feel safe and comfortable to go out for fun with our families and young ones. But, kudos to the efforts and hoping for a cure to the pandemic soon.