Attendance should drop but not just because of the fear of Covid19 but the economy. When we started the year the economy was growing and unemployment was only 3.5%. On top of that the US had a networth of 4 to 5 trillion. Today we have over 15% unemployment and the networth of the US is almost completely gone, just 140 billion now and will be negative by the end of tomorrow. Add to that the 484 billion dollar bill to be passed tomorrow and another 500 billion to bailout the states and we have a 1 triion dollar net debt. WDW and Universal will face drops in attendance for several years. Orlando faces high unemployment and no economic growth. Millions of Americans will need years to recover in real dollars what has been lost to pay for Covid19.
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Why is construction still happening at Universal, but not Disney?
- Thread starter ImNoImagineer
- Start date
Giss Neric
Well-Known Member
While Disney and Universal will face drops in attendance and revenue, I'm concerned for those smaller local parks like Six Flags, Cedar Parks, etc. They might not make it. They don't get anywhere near Disney level attendance.
Isn't that Universal's crew ?
They're the crew they hired at first to fix the yeti
I agree. Not to mention keeping the Full Timers on board for as long as they can, at 80 percent pay, still under the company dime and full benefits.(which may change soon, but at least they have communicated throughout.)
Cedar Fair seems to have handled it best yet in terms of Themed Entertainment.
TrainsOfDisney
Well-Known Member
I think Cedar Fair and Herschend Parks (and quality local parks like Silverwood, Hershey, Busch Gardens Williamsburg) will do well as Disney alternatives.
They won’t suffer the same way, they just extended their normal park closure and will open a little bit later.
I think people will be ready to go to a regional park for a day a lot faster than going on a multi-day vacation. That’s for a variety of reasons including fear of public transport / hotels, expense, etc.
Animaniac93-98
Well-Known Member
Regional parks also tend to have more outdoor rides and queues.
Imagineer45
Active Member
Luckily, Cedar Fair is well run and should be able to weather this storm. Six Flags is poorly run and may need to shed parks to stay afloat. Even though their executives have done much to prevent a hostile takeover in the past month with their stock up 70%, they are in all sorts of financial trouble and are sitting on real estate worth roughly as much as their $1.5 billion market cap between only a couple of their parks.
Disneyhead'71
Well-Known Member
Beat me too it.
This was expected by everyone who understands business finances. Only those who live in a dream world coild believe Comcast could lose billions in revenue, pay everyone and still make increasing capital expenditures. I said this would happen as soon as the economy started closing. The number I found most interesting wasvthe 500 million a quarter loss the parks would suffer before EBITA. I guess that means the fixed quarterly costs for purchased IP is quite expensive, especially HP. Remember they have to pay that even if they are closed.
I assume Jurrasic coaster is still going ahead with construction?
KrazyKat
Well-Known Member
Giss Neric
Well-Known Member
Here are the pending attractions that are certainly delayed. Did I miss something?
Universal
Secret Life of Pets ride
Bourne Stuntacular
Jurassic rollercoaster
Disney
Ratatouille/France expansion.
Harmonious.
Tron
Cosmic Rewind rollercoaster
Marvel land/Spiderman ride.
Epcot
Universal
Secret Life of Pets ride
Bourne Stuntacular
Jurassic rollercoaster
Disney
Ratatouille/France expansion.
Harmonious.
Tron
Cosmic Rewind rollercoaster
Marvel land/Spiderman ride.
Epcot
Work continues on the raptor coaster. SloP is currently not coming to Orlando.
JoeCamel
Well-Known Member
The word was that it is 500 million in profits that they will miss out on. Not that the fixed costs are 500 million.
The said EBITA not fixed costs. That excludes Interest, depreciation and taxes. It does include other fixed expenses such as minimal maintenance and payments to Disney and AT&T. Therefore the actual true account loss is higher.
Goofnut1980
Well-Known Member
The thing is, even if the parks do not open up right away. The ease of restrictions should allow construction to start back up without guests present. Hoping anyways. The only way to finish that half painted castle is to maybe cover it with blowups and make it a cake?? 