Shanghai Disneyland Park reopened Monday and the entire week sold out almost immediately, according to Walt Disney Co. CEO Bob Chapek. The sprawling China resort put strict health measures in place for guests (and employees), and it appears by the ticket demand, those changes did not deter would-be visitors.
That could bode well for Disneyland’s eventual reopening in Anaheim, contends one veteran Wall Street analyst.
Shanghai Disneyland was the first of the company’s theme parks to close amid the novel coronavirus pandemic, shuttering in late January. A domino effect occurred in the months following, with Disneyland and Walt Disney World among the last parks to close in mid-March.
Now, as the company considers the possible initial stages of reopening its domestic parks, all eyes are on Shanghai as a potential blueprint. So far, Shanghai’s reception may be a good sign for Disneyland, but not necessarily Disney World.
David Miller, an analyst with Imperial Capital, told The Hollywood Reporter on Friday that the China theme park moving tickets so quickly shows demand exists. “I would say it generally bodes well for Disneyland because Disneyland is more of a local visitation Disney park — but there are no guarantees,” Miller said.
The maximum capacity for Shanghai Disneyland is 80,000 a day. However, under current government regulations, the park must cap occupancy at 30 percent, which is 24,000 visitors a day. Chapek previously noted the park would open with 20 percent capacity. After a few weeks, it would be increased to the 30 percent level. The exec also made it clear the company would not reopen a park if it would lose money.
Investment banker Macquarie in a May 8 analyst report noted the recovery of all parks is assumed to be gradual into 2021. “For Parks & resorts we calculate Disney will lose between $1.5 to $1.8 billion,” reads the report. “We assume Disney parks can save 60 percent of its costs through the staff furloughs as well as saving other variable costs such as food and beverage and utilities.”
Thus far, there has been zero mention from the company about a reopening of Disneyland, although the resort is currently allowing would-be guests to make July hotel reservations. In Florida, Gov. Ron DeSantis on Friday afternoon gave Disney World and Universal Orlando the green light to submit plans for reopening.
“They have to provide how they are going to do it, how they’re going to accommodate the guests, how they’re going to protect the staff and then they need to have an endorsement from the local official in their locality,” DeSantis said. He noted Disney and Universal have to submit in the plan to the state the date the companies believe the theme parks can resume safe operations.
The Disney Springs shopping and dining complex in Orlando will reopen next Wednesday with strict health measures in place, a union leader explained. At first, only subcontracted shops will be open in Disney Springs. The next phase will begin seven days later when Disney retail shops, such as the World of Disney Store, and Disney eateries reopen.
(Excerpt) Read more in: The Hollywood Reporter