lazyboy97o
Well-Known Member
Balfour Beatty is also the contractor on Ratatouille and Ice Breaker. Owner-Contractor agreements have provisions for the owner to unilaterally suspend the work.
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What's Still On and What's Now Off
- Thread starter WDW Pro
- Start date
I'm aware. I'm looking into why that, of all projects, is still under construction of some kind.
lazyboy97o
Well-Known Member
Since it is still largely site work, completing the water management would be a possible cause beyond contracts that can be suspended at will. Regardless of whether or not the hotel moves forward the site needs to appropriately manage water in the approved manner.
NoBreyner60
Active Member
If what I read on a Disney news site I think it mentioned Reflections is still moving because it was already funded. I guess to a point then they'll stop.
lazyboy97o
Well-Known Member
TRON and Ratatouille were already funded with the latter nearly complete.
GhostHost1000
Premium Member
Don’t dvc membership and/or owners of that resort when it’s sold pay for and maintain those resorts?
I’ve never taken an interest in how DVC works (partly since I’ll never afford it) but I know this project is being re evaluated.
RSoxNo1
Well-Known Member
I suspect most things announced at last year's D23 Expo for Epcot will be delayed at the very least. That would potentially include the Events Pavilion, Journey of Water and the Mary Poppins attraction
I also don't know how the pricing structure for cruise ships works but I could certainly see the 2023 ship being delayed or cancelled.
Some interesting things could be the Play! Pavilion, which was announced 6 months prior to D23, the DuckTales World Showcase adventure which was announced after and Wondrous China which was actually announced in 2017 but has had other rumored delays around the tariffs.
I could see something like Alien Swirling Saucers not happening for Paris and DCA cutting the Avengers E-ticket or the Doctor Strange show.
I also don't know how the pricing structure for cruise ships works but I could certainly see the 2023 ship being delayed or cancelled.
Some interesting things could be the Play! Pavilion, which was announced 6 months prior to D23, the DuckTales World Showcase adventure which was announced after and Wondrous China which was actually announced in 2017 but has had other rumored delays around the tariffs.
I could see something like Alien Swirling Saucers not happening for Paris and DCA cutting the Avengers E-ticket or the Doctor Strange show.
trainplane3
Well-Known Member
To a point. We have monthly maintenance fees that need paid.
Dr.GrantSeeker
Well-Known Member
That was asked last night about the new cruise ships order and if it is possible to cancel their order. I don't remember an answer given for this question. Does anyone else? Or was this question just ignored?
"Jessica Reif Ehrlich -- Bank of America Securities -- Analyst
Sure. The first question is, how are you thinking about longer-term changes in your business model as a result of this crisis? And however you think about that, whether it's sports, how much you will bid or how many contracts you need or conversely is this an opportunity versus competitors, capex, resizing the business etc.? And second question is, can you remind us what percent pre-crisis cruise ships were in terms of revenue and operating income? And since this seems like the last business that will come back, can you cancel the orders for your pending ships that are being built?"
That specific question was not answered.
Here is the cruise portion -
"Bob Chapek -- Chief Executive Officer
And in terms of the cruise ship business, we agree that that will probably be the last of our travel oriented businesses to come back online. Interestingly enough long term all of our data and our research shows that our guests will be just as interested in cruising with us long term. Obviously not in the next few months but much more resilient than any of the competitive businesses because of that love for Disney and assurance that they feel, that they trust our business to act in a responsible way to help to the extent possible protect them against some of the woes that have plagued the industry since COVID has hit."
"Christine M. McCarthy -- Senior Executive Vice President and Chief Financial Officer
Sure. Jessica we don't break down our individual businesses within the segment. But -- so for the percent of revenue and operating income, given the size of our global parks business that includes the cruise business and now it includes consumer products. It's a relatively small percentage of operating income and revenue.
But that being said, and this just builds on some of the things Bob said, this is a business that is one of our highest-rated businesses in terms of guest satisfaction and it also has a very high intent to repeat the experience. So a lot of people who go on one tend to go back for multiple cruises. So -- and it's also a business when we look at it from an ROI perspective, ROIC perspective, it's a very nice returning business creating value long term for shareholders."
GhostHost1000
Premium Member
And the upfront cost. I’m a dvc member as well I just assumed that project may go forward because the dvc resorts to my knowledge anyways pay for themselves as long as there is demand. I could be wrong about that however
I'm pretty sure I've read around here that Reflections was one of the projects not moving forward.
I think you're right. I don't know for sure yet, but it sounds like Martin already does.
peter11435
Well-Known Member
Nobody around here knows that one way or the other for sure yet.
bpiper
Well-Known Member
Yes, they pay for themselves once its SOLD OUT by member dues. Until the break even number of points are sold for the resort, Disney is underwater on their construction costs.
They need to have Reflections finished right before when they anticipate Riviera to sell out so that they can seamlessly move over to selling points there.
If Reflections is being re-evaluated it means that there are concerns that sales at Riviera will slow down. That means that they can stop construction for awhile until they can see the sales trends better. With no vertical construction started, although it did look like footers for support columns had been pored for the wing closest to Pioneer Hall in the recent aerials, its relatively easy to stop construction and restart later with out incurring any weather damage to unfinished structures.
If Disney is anticipating significant decreased attendance, this will effect point sales.... The amount would depend upon the number of contracts that come from the DVC kiosks around the resort vs existing members adding on points there. Also, while attendance might still be healthy, people might not be in the mood to commit to purchasing DVC due to economic anxiety.
Kman101
Well-Known Member
Not making light of this deadly, serious virus by any means, but isn't it always super frustrating and disappointing that whenever WDW gets investment something happens that causes cutbacks and reductions. Just a shame. While most disagree on the direction of the parks, they were spending a LOT of money finally. The sad fact is, they literally can't afford to NOT spend money but they're in the spot where they have to NOT spend money.
pdude81
Well-Known Member
Figuring out how to make more revenue with fewer guests?
@realBobChapek might not have been the savior you wanted, but he is the one you needed.
Good point, I'm either mis-remembering or am extrapolating too much into other comments. But either way, that's my bad, and I appreciate you pointing that out.