Disneyland gives glimpse into its post-coronavirus reopening plans
Some attractions may be modified or remain closed
Bernie McTernan of Rosenblatt Securities argues Disney parks will be running at a profit loss for the rest of the fiscal year before eventually returning to profitability in 2021.
Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here.
Disneyland is offering guests a look at the "happiest place on earth" when it reopens under modified operations, marking a major step toward reviving tourism that was shut down by the coronavirus pandemic.
The California theme park, which closed its gates in mid-March to limit the spread of COVID-19, gave guests a snapshot into what the resort will look like once it finally reopens, although officials have yet to determine when that will be.
WALT DISNEY, UNIVERSAL, SEAWORLD MAKE POST-CORONAVIRUS REOPENING BIDS
Visitors, wearing face masks, enter the Disneyland theme park in Shanghai as it reopened, Monday, May 11, 2020. (AP Photo/Sam McNeil)
Disney cautioned that upon reopening the resort, some parts "may be limited in capacity and subject to restricted availability or even closure based on guidance from health experts and government officials," according to an update to the Disneyland website. "Furthermore, certain attractions, experiences, services and amenities will be modified, have limited availability or remain closed."
Disney also warned that park admission will not be guaranteed.
Although all Disneyland Resort theme parks, hotels and the Downtown Disney District remain closed, the resort is accepting reservations as early as July 1.
DISNEY SPRINGS ADDS CORONAVIRUS SOCIAL DISTANCING TEAM TO PROTECT GUESTS, CAST MEMBERS
The update is the latest of many small steps Disney is taking toward reopening since mid-March when the spread of the new coronavirus forced the company to shut down its resorts all over the world.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DIS | THE WALT DISNEY CO. | 115.07 | +5.94 | +5.44% |
Tourism has been hit especially hard by restrictions that shut down airline and cruise ship travel, theme parks and cinemas. However, Disney's theme parks are a crucial revenue driver for the company. Parks, experiences and product division accounts for around 30 percent to 35 percent of total revenue.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
In working to revive the stifled business, Disney officially let visitors in face masks enter Shanghai Disneyland at the beginning of May with safety measures in place, becoming the first of the company's parks to reopen.
Following suit was the partial reopening of Disney Springs, a shopping and entertainment venue that’s been closed along with the rest of Disney’s sprawling Orlando, Florida, resort.
Disney promised to continue to "carefully evaluate this complex and fluid situation" and update guests when more information becomes available.
CLICK HERE TO READ MORE ON FOX BUSINESS
The Associated Press contributed to this report.