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As we mentioned yesterday in our blog post regarding the re-opening of Shanghai Disney, Bob Chapek revealed details regarding the future of Disney Parks and Resorts and the Disney Cruise Line on the May 20 Shareholder’s meeting.
The meeting revealed several new details regarding the future of Disney Parks and Resorts but also left many questions. Shanghai Disneyland will reopen on May 11 following a 100 day closure. It was the first of the Disney parks to close and will be the first to reopen.
Disney profits have fallen 58% with the effects of Coronavirus which is reasonable considering much of Disney’s revenue and profit comes from their theme parks, cruise line and resorts which are all experiencing their longest closures in history.
Questions remain about the major overhaul of Epcot that is planned and currently under construction as well as other projects that have already been announced or are currently in the works, including the three new cruise ships that are scheduled to begin rolling out in early 2022.
Bob Chapek didn’t specifically address questions on whether the newest additions to the Disney Cruise Line will be postponed but he did address Disney Cruise Line. “We agree that Disney Cruise Line will probably be the last of our travel oriented businesses that will come back online.”
As of now there is no timeline for any domestic parks to reopen or Disneyland Paris, Tokyo Disney or Hong Kong Disneyland.
“As we look ahead, while we have announced plans to reopen Shanghai Disney Resort, there is limited visibility into the timing of reopening and the conditions under which we can reopen the rest of our Parks and Resorts, cruise ships and Disney stores,” Christine McCarthy, chief financial officer at Disney, said during the call.
Carnival Cruise Line announced earlier this week that they would begin sailing on August 1 but no other cruise lines have made any such announcements at this time.
At the time of publication, Disney Cruise Line has cancelled all sailings through June 18.
We have hope that Disney will be able to slowly reopen parks and resorts throughout the world as Coronavirus restrictions begin to lift and we hope to start sailing again before fall but time will tell as we wait for Disney to release additional information as it becomes available.
We hear a lot of frustration on social media regarding Disney not communicating cancellations and closures and to that we say this; during this unprecedented time, where not only individuals are navigating a circumstance that has never in our lifetimes been deal with before but also every business, state and country in the world is struggling to navigate these uncharted waters.
Disney isn’t witholding information to keep your money and frustrate you. They don’t know what the future holds and when “normal” will resume. In addition, no one, including Disney knows what the new normal will look like. This is a situation like no other; there is no handbook for navigating this situation and Disney would like to get back to making money as much as you would like to get back to making memories with Disney and giving them your money.
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