TheTourAttraction.com aims to provide the latest global travel and free travel news, travel and visa policies, and flight information. We hope to provide insights into tourism market, technology and development trends with everyone by providing the latest relevant information. Despite the raging COVID-19 epidemic in 2020, we always firmly believe that mankind will overcome the disease and the tourism market will definitely recover. TheTourAttraction.com look forward to your attention and support, and witness the development of the global tourism industry with us. Looking forward to the information TheTourAttraction.com provide can help you. We will continue to follow up and obtain the latest data, and look forward to your attention and support.
The following is the [Travel News]: Disney posts 61% drop in theme park, experiences and products revenue from [NewYorkTimes] recommended by TheTourAttraction.com:
Operating income decreased 82% with steep losses at coronavirus-devastated theme park division.
Disney reported an 82% decline in quarterly operating income, the result of steep losses at its coronavirus-devastated theme park division and the postponement of major movie releases.
The theme park and consumer products division saw operating profit down by $2.5 billion, resulting in a loss of $1.1 billion. Walt Disney World in Florida reopened in July with limited capacity, but other major properties, including Disney Cruise Line, remain closed because of the coronavirus.
CEO Bob Chapek said that Disney World, which had reopened at 25 percent capacity, recently lifted restrictions to 35 percent “while still adhering to the guidelines that are stipulated by the C.D.C. for six-foot social distancing.” Reservations for Thanksgiving week are “almost at capacity,” Christine M. McCarthy, Disney’s chief financial officer, said on the conference call.
But Wall Street had already decided that Disney’s overall results for the quarter.
Investors are confident that Disney’s theme park empire will come roaring back when a vaccine is deployed — and all they really care about, at least for the moment, is streaming.