Excerpts from article:
...Tokyo Disneyland said Friday that it would close for two weeks as a precaution against the spread of coronavirus in Japan, one day after Prime Minister Shinzo Abe asked schools nationwide to close for most of March.
...Two Disneyland resorts in Shanghai, China, and Hong Kong have been closed since Jan. 26 just as the Chinese government put parts of that country on lockdown in an effort to contain the then-nascent virus ahead of the busy Lunar New Year travel period.
..."At Shanghai Disney Resort, we currently estimate the closure of the park could have an adverse impact to second-quarter operating income of approximately $135 million, assuming the park is closed for two months during Q2," she sad.
...McCarthy added, "The current closure is taking place during the quarter in which we typically see strong attendance and occupancy levels due to the timing of the Chinese New Year holiday. The precise magnitude of the financial impact is highly dependent on the duration of the closures and how quickly we can resume normal operations."
...On Tuesday, new Disney CEO Bob Chapek told told CNBC, "While this is certainly a bump in the road in terms of the coronavirus, we'll come through like we've come through every other challenge that we've had, and that affinity for the brand and our storytelling will way outlast any type of short-term blip that we have from corona."
...The closure of Tokyo Disneyland will not affect Disney's numbers as dramatically as the Chinese parks because it only earns royalties on that facility, which is owned and operated by a third-party Japanese company.
Submitted 1512 days ago
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