Disney to reduce theme park hours in September
Disney to reduce theme park hours in September
DOWN THE NUMBERS, AND SHARES HOW THIS IS HAVING A RIPPLE EFFECT THROUGHOUT CENTRAL FLORIDA. CHRIS: EVEN AT LIMITED CAPACITY TO PROMOTE SOCIAL DISTANCING, DISNEY’S CEO SAYS WALT DISNEY WORLD IS MAKING MONEY. HOWEVER, THE MOST RECENT EARNINGS REPORT FROM DISNEY SHOWS THE CORONAVIRUS PANDEMIC IS HAVING A SEVERE IMPACT ON TOURISM. DURING A TUESDAY EARNINGS CALL, DISNEY’S CEO AND CFO ANNOUNCED THE PARKS, EXPERIENCES AND PRODUCTS SEGMENT OF THE COMPANY IS THE HARDEST HIT BY THE CORONAVIRUS PANDEMIC. >> UNFORTUNATELY, COVID STRUCK AGAIN, AND ALL THE NUMBERS STARTED GOING UP. THIS GAVE SOME LEVEL OF TREPIDATION TO TRAVELERS WHO ARE ANXIOUS ABOUT LONG DISTANCE TRAVEL, JUMPING ON A PLANE AND FLYING TO WALT DISNEY WORLD. CHRIS: THE SEGMENT OF DISNEY INCLUDES THEME PARKS, HOTELS, AND CRUISE LINES WORLD-WIDE. THE COMPANY SAYS THE TOTAL NEGATIVE IMPACT FROM COVID-19 IS ABOUT 3.5 BILLION DOLLARS FROM THE END OF MARCH TO THE END OF JUNE WE SPOKE WITH DR. ADY MILMAN, A PROFESSOR AT UCF’S ROSEN COLLEG OF HOSPITALITY MANAGEMENT, ABOUT WHAT THIS MEANS FOR CENTRAL FLORIDA’S ECONOMY. >> WE HAVE DIRECT AND INDIRECT EMPLOYMENT. EVEN UBER DRIVERS OR TAXI DRIVERS ARE INDIRECTLY IMPACTED. CHRIS: ABOUT HALF OF WALT DISNEY LOCAL MARKETS. DISNEY IS SEEING A HIGHER NUMBER OF RESERVATION CANCELLATIONS THAN IT EXPECTED. >> AN INTERNATIONAL TOURIST TYPICALLY STAYS IN CENTRAL FLORIDA SIGNIFICANTLY LONGER THAN THE DOMESTIC TOURISTS SO HENCE, LOSS OF REVENUE IN TERMS OF PURCHASING TICKETS TO THE PARKS, TO THE WATER PARKS, TO THE HOTELS, NIGHT TIME ENTERTAINMENT, AND SO FORTH. CHRIS: DISNEY’S CEO IS OPTIMISTIC THAT ONCE FLORIDA’S COVID-19 NUMBERS DECLINE, TOURISTS WILL COME BACK. >> OUR RESEARCH INDICATES AN OUR BOOKINGS INDICATE THAT WE SHOULD BE IN GOOD SHAPE ON CONSUMER CONFIDENCE SORT OF RETURNS. CHRIS: BASED ON RESERVATIONS, DISNEY LEADERS SAY THERE IS ENOUGH DEMAND TO SURPASS
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Disney to reduce theme park hours in September
Hours will be getting cut at Walt Disney World Theme Parks starting in September.(RELATED VIDEO: Disney theme parks take $3.5 billion hit due to coronavirus)Walt Disney World’s website shows starting Sept. 8, park hours will be reduced at all parks, including two hours early at EPCOT.EPCOT will close at 7 p.m. instead of 9 p.m.The rest of the parks will close one hour early. Magic Kingdom will close at 6 p.m., Disney’s Hollywood Studios will close at 7 p.m., Disney’s Animal Kingdom will open an hour later at 9 a.m. and close an hour early at 5 p.m.The hours at Disney Springs will remain the same.
Hours will be getting cut at Walt Disney World Theme Parks starting in September.
(RELATED VIDEO: Disney theme parks take $3.5 billion hit due to coronavirus)
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Walt Disney World’s website shows starting Sept. 8, park hours will be reduced at all parks, including two hours early at EPCOT.
EPCOT will close at 7 p.m. instead of 9 p.m.
The rest of the parks will close one hour early. Magic Kingdom will close at 6 p.m., Disney’s Hollywood Studios will close at 7 p.m., Disney’s Animal Kingdom will open an hour later at 9 a.m. and close an hour early at 5 p.m.
The hours at Disney Springs will remain the same.