Effects of Coronavirus (COVID-19) On Entertainment & Tourism Industry

[Imperius]

Disney parks estimated to take 2 Years to recover to full operational capacity.

So, when do we start making bets on what chains make it out of this?

Don’t want anyone to lose their jobs, but if Ticket Master closed it would be great.

 

[GAcoaster]

I've heard that internally Six Flags is planning on starting employee training mid to late May with a June opening planned, but most likely with reduced operations much like they do for their Holiday in the Park events. That may vary by park location, but it's the plan I heard for NJ. I'm guessing we may see similar plans for all the parks with employees coming in for a week or two before the parks open to set things up for social distancing and then phased re-openings and reduced hours and capacity.

 

[ThemeParks4Life]

I'll be back at Disney/Universal this summer because I'd like to use my annual passes and do something that isn't being holed up in my apartment all day, but I'll probably wait a few weeks after they re-open. I'm not convinced the curve will be flat enough come June 1, but by the Fourth of July, I'd probably feel safe enough going to the parks.

 

[Cup_Of_Coffee]

Ideally I feel, and the world is acting, safe enough by April 2021 so I can go to Universal for Velocicoaster and Bourne. I doubt tourism will be flourishing by then so it’d be a safer time to go with less crowds. Maybe even the rates at Dock/Surfside will be even lower!

I want to go mainly to support the local park employees and the parks in general as Universal is my favorite place on earth but I also don’t trust humans in mass being responsible with their health. It’s a tough game to play and we need to see how it all ends up shaking out. Hopefully whatever security measures are added are more than just “theatre” and they’re somewhat serious and protective.

But other worry is that it takes awhile for meet n greets, streetmoshphere, and shows to come back. At least with the rides you can hypothetically keep people moving but the other things I mentioned you can’t really. It’ll be interesting to see how Ops handle all this.

 

[Tbad556]

Lowkey, I'll probably be back within the first month of reopening depending on what opens initially and whatnot. :shrug:

Also, from what I've heard, Universal should announce the latest update for TMs at some point this week.

 

[Nick]

Lowkey, I'll probably be back within the first month of reopening depending on what opens initially and whatnot. :shrug:

Also, from what I've heard, Universal should announce the latest update for TMs at some point this week.

Schedules for the week following the 18th would normally be dropped tomorrow.

And I’ll probably be back fairly quickly after opening too.

 

[Scott W.]

History shows now is the time to invest in tourism projects – are Disney, Universal and SeaWorld listening?

With millions of jobs now furloughed indefinitely and billions in lost revenue, the tourism industry is currently grappling with the most significant challenge it has...

m.orlandoweekly.com

 

[RevFreako]

History shows now is the time to invest in tourism projects – are Disney, Universal and SeaWorld listening?

With millions of jobs now furloughed indefinitely and billions in lost revenue, the tourism industry is currently grappling with the most significant challenge it has...

m.orlandoweekly.com

Storey is kind of a whackadoodle, but he's not often wrong on this stuff.

 

[Nick]

Broadway extending it’s closure through at least June 7th.

Broadway To Remain Closed Through June 7, Possibly Ending 2019-2020 Season Early

Erik Pendzich/Shutterstock UPDATE, with specific show details Broadway will remain closed through June 7, a two-month extension of the current coronavirus shutdown that could mean the retroactive end of the 2019-2020 Broadway season to the March 12 shutdown. No mention was made in the Broadway...

www.google.com

 

[Parkscope Joe]

Storey is kind of a whackadoodle, but he's not often wrong on this stuff.

Hes often wrong about stuff (*waves*) but the point is salient. The only off thing was using Hershey as an example and not, you know, Potter in 2008-2010.

 

[Mad Dog]

Hes often wrong about stuff (*waves*) but the point is salient. The only off thing was using Hershey as an example and not, you know, Potter in 2008-2010.

Yes, he makes a good solid point. And, companies that strategically long term plan often are the ones that prosper the most. This is definitely not the time for companies to play the short term quarterly results game to make shareholders happy.

 

[Happytycho]

History shows now is the time to invest in tourism projects – are Disney, Universal and SeaWorld listening?

With millions of jobs now furloughed indefinitely and billions in lost revenue, the tourism industry is currently grappling with the most significant challenge it has...

m.orlandoweekly.com

I'd agree that it's important to keep investing in new attractions, but for the companies that currently have no revenue remaining solvent has to be a higher priority.

 

[Mad Dog]

I'd agree that it's important to keep investing in new attractions, but for the companies that currently have no revenue remaining solvent has to be a higher priority.

Definitely. Their choices are limited.

 

[Parkscope Joe]

Broadway extending it’s closure through at least June 7th.

Broadway To Remain Closed Through June 7, Possibly Ending 2019-2020 Season Early

Erik Pendzich/Shutterstock UPDATE, with specific show details Broadway will remain closed through June 7, a two-month extension of the current coronavirus shutdown that could mean the retroactive end of the 2019-2020 Broadway season to the March 12 shutdown. No mention was made in the Broadway...

www.google.com

Makes the most sense since NYC has been an epicenter of the outbreaks. I think NYC will be on a longer shut down and isolation than other cities and states.

 

[Mad Dog]

Makes the most sense since NYC has been an epicenter of the outbreaks. I think NYC will be on a longer shut down and isolation than other cities and states.

I agree. NYC is like prime territory for CV type outbreaks rapid spread. They have a strong culture of eating out most nights, and congregating in large social groups for entertainment etc. Apartments are small, except for the ultra rich, so cabin fever would set in real quick. That's a lifestyle that doesn't create much distancing. Very few have autos so they use the subway, taxis or Uber. Get a couple of super spreaders, and look out....Massive testing and immunity will be in their best interests.

 

[Clive]

Makes the most sense since NYC has been an epicenter of the outbreaks. I think NYC will be on a longer shut down and isolation than other cities and states.

We also keep saying that we expect the parks to reopen without theater-based attractions, so this all tracks.

 

[Cup_Of_Coffee]

I'd agree that it's important to keep investing in new attractions, but for the companies that currently have no revenue remaining solvent has to be a higher priority.

While I have ZERO clue on numbers, Comcast is still having cash flow and about to launch a streaming service. While I'm sure they are not rolling in the bank, I think they have the resources to at least continue on things like Epic Universe and get as much work done as they can to make sure that 2023 date sticks, as hopefully the world will be a bit more normal by then. They could seriously capitalize on that if they keep their pricing structure lower than Disney's. Idk I could truly see Universal pulling Disney people away after all this with their prices being so much more reasonable, and, Nintendo. I know I'm speaking from a biased fan perspective but idk, I really think things will just simply be different after all this and not that Disney will go away but I could see them being ridiculous with prices once things are "normal" again, they've proven they'll continue to raise prices lol.

 

[GadgetGuru]

I’m pretty convinced every major project gets shifted by at least a year to make up for this.

Bourne is basically done, so that’ll be launched ASAP to get people into the parks. If park attendance is looking healthy, I think Velocicoaster will he pushed back a year. If it isn’t, it’ll launch on time to entice attendance.

I just can’t see EU launching on schedule. It’ll launch, but I really see Comcast setting it back a year to conserve cash flow.

 

[HandsomePete]

Yes, he makes a good solid point. And, companies that strategically long term plan often are the ones that prosper the most. This is definitely not the time for companies to play the short term quarterly results game to make shareholders happy.

Yeah it’s a catch-22... the absolute best cycle to be on is invest during downturns when construction is cheaper and ride the wave during the high points. Problem most of the time is that it takes good business to make your pro forma work.

Getting that right from a planning perspective is usually more luck than skill.

 

[Mad Dog]

Yeah it’s a catch-22... the absolute best cycle to be on is invest during downturns when construction is cheaper and ride the wave during the high points. Problem most of the time is that it takes good business to make your pro forma work.

Getting that right from a planning perspective is usually more luck than skill.

Yes, you're correct, though the long term businesses are in better shape due to their business philosophy and less subject to fortuitous events. . Shame is, up until Carl Icahn ushered in the investment group scavenger times,(Blackstone Baine etc), most corporations did engage in long term strategy. He really messed up the business models big time by getting companies to emphasize short term investor gains over solid long term strategies. Comcast, which has a history of concentrating long term gains, instead of short term quarterly satisfactions, sure positioned themselves well to take advantage, if need be. Also, emphasizes how important it is to have the bulk of your business generating a steady cash flow.