According to everything I read, Epic Uni6is designed to have each land rentable by businesses hold Convention in Orlando. That business is being killed by this virus and may take years to full recover. Then their is the expected loss of well over $10 billion dollars in the worldwide movie box office. So what action will comcast take to minimize the problems to their bottom line? Will Comcast delay Epic Universe? Disney appears yo be delaying the expansion of Galaxy Edge because of this.
-
Welcome to the WDWMAGIC.COM Forums!
Please take a look around, and feel free to sign up and join the community.
Covid19 and Universal?
- Thread starter seascape
- Start date
JoeCamel
Well-Known Member
I am sure they will adjust as needed. Without knowing the depth and severity of the outbreak they have to be flexible and act as needed when needed.
I doubt anyone in the suites are panicking and calling for a shut down of all expansion. I heard that the west coast parks, both large players, are seeing a significant downturn in bookings and attendance.
I doubt anyone in the suites are panicking and calling for a shut down of all expansion. I heard that the west coast parks, both large players, are seeing a significant downturn in bookings and attendance.
I hope the individual vacationer does not cancel their trips. However. I do expect a permanent reduction of business travel. I, as an investor never understood the justification of business conventions in tourist locations that could achieve the same results with teleconferences. So, I hope there is an end to this wasteful use of company funds.
lazyboy97o
Well-Known Member
Full steam ahead.
WDW and probably Universal loves convention business. Meetings all day, then enjoy the theme parks, Disney Springs at night. While the convention guest is holed up in conferences, the family that tags along sometimes is spending $$ at Disney and Universal.
A Noble Fish
Well-Known Member
A good article on some facts and misconceptions:
www.theguardian.com
Is coronavirus mutating into a more deadly strain? Covid-19 myths busted
The truth about the protective value of face masks and whether it’s easy to catch Covid-19
www.theguardian.com
I know they do but there any many businesses stopping all travel, thus conventions have been cancelled at the Orlando Convention Center and elsewhere in Orlando.
Well Universal did cancel its First Annual Peacock Live event. It was either because of Covid19 or that not enough tickets were sold. Comcast has to make cuts somewhere because they are losing hundreds of millions in revenue. just like Disney is. The one advantage Disney has over this problem is that they told their stockholders to expect losses of over 5 billion on Disney Plus over the first three years of it's launch and now it looks like it will be profitable in year 2. Look at both companies stock price and realize that the investors want to see vuts or delays on expenditures until more is known. Plus both companies need to realize that a good portion of business travel will never come back.
The virus is a temporary issue. If people permanently stop coming here for conventions (which they won't), the virus will not be the reason why.
I never said the virus was the reason businesses would cut wasteful spending permanently. It is once businesses realize that a large percentage of their travel budget could be replaced with teleconferencing technology, which is much cheaper, that it will not come back. I do expect vacationers to come back and continue to grow, but no company can lose hundreds of millions in revenue and not make cuts to expenditures, especially companies like Comcast and Disney that borrowed billions to buy other companies. Comcast did afterall borrow billiols to fund their 30 billion dollar purchase of Sky just like Disney borrowed 36 billion to buy Fox. Disney though did get money from Comcast for their portion of Sky and more money from the sale of the RSNs.
OG Runner
Well-Known Member
IanDLBZF
Well-Known Member
LATE BREAKING -
"Out of an abundance of caution and to assist with our nation’s preventive efforts, Universal Orlando Resort will temporarily close its theme parks. The closure is effective at the close of business on Sunday, March 15. We anticipate remaining closed through the end of March – but will continue to evaluate the situation.
"Universal Orlando’s hotels and Universal CityWalk will remain open.
“We have created flexible programs for those guests who have booked travel packages or tickets with us. Guests can call this number for more information: 877-801-9720. A core group of team members will continue to work on site. Hourly team members will be paid for any work scheduled through the end of March."
Source - WFTV Channel 9 (ABC)
"Out of an abundance of caution and to assist with our nation’s preventive efforts, Universal Orlando Resort will temporarily close its theme parks. The closure is effective at the close of business on Sunday, March 15. We anticipate remaining closed through the end of March – but will continue to evaluate the situation.
"Universal Orlando’s hotels and Universal CityWalk will remain open.
“We have created flexible programs for those guests who have booked travel packages or tickets with us. Guests can call this number for more information: 877-801-9720. A core group of team members will continue to work on site. Hourly team members will be paid for any work scheduled through the end of March."
Source - WFTV Channel 9 (ABC)
trr1
Well-Known Member
What to Know
Universal Studios officials said the Hollywood park would be closing to the public beginning Saturday, and would reopen March 28.
Universal Orlando Resort was to temporarily close its theme parks beginning at the end of the day Sunday, March 15.
- Universal and Disney properties announced they would close their doors beginning Saturday over coronavirus spread.
- By Thursday, more than 127,000 positive cases had been reported worldwide, with deaths exceeding 4,700.
- CityWalk was to remain open.
Universal Studios officials said the Hollywood park would be closing to the public beginning Saturday, and would reopen March 28.
Universal Orlando Resort was to temporarily close its theme parks beginning at the end of the day Sunday, March 15.
I don't know why they're even bothering honestly. It's as if someone told them the virus has an expiration date of April 1st. Doesn't work that way, and they can't afford to stay closed until it's actually under control.
It would be nice if they added the lost time onto everyone's annual passes. I'm just throwing that out there.
JoeCamel
Well-Known Member
They already posted that all closed days will be added to passes.I don't know why they're even bothering honestly. It's as if someone told them the virus has an expiration date of April 1st. Doesn't work that way, and they can't afford to stay closed until it's actually under control.
It would be nice if they added the lost time onto everyone's annual passes. I'm just throwing that out there.
monykalyn
Well-Known Member
Ever hear of networking? hard to do teleconference. Ever hear of company wide training and getting to meet with the big bosses? Hard to do with teleconferencing. Ever hear of incentive trips and employee moral? Hard to do with teleconferncing.
And yet all businesses should immediately and forever cut their Conference business from the theme parks, thus reducing the amount of revenue generated to pay their employees. yeah THAT makes sense. I'm sure the investors at Disney and Universal will be happy with that.
Ummm ever hear of H1N1 pandemic of 2009? Targeted the young and healthy?
Hollywood will lose over 20 billion dollars of box office revenue that will never be recovered. Now. Disney and Universal get over half of that. Does anyone here think that 6 billion in revenue, their shate of the box office, that will not reduce capital spending. Plus there is the money from the themeparks that is loss while at the same time paying staff for not working. I expect lots of construction plans that have not started actual construction to be postponed. Besides, it will also take time before people return to normal.