In a rare appearance, Disney’s CEO Bob Chapek spoke at a Morgan Stanley media conference and discussed how the company has utilized the downtown at their Anaheim theme parks to create an improved experience for guests once the Disneyland Resort reopens.
As we approach the one year mark of the shutdown of Disney’s theme parks worldwide, only two resorts remain closed, Disneyland in Anaheim California and Disneyland Paris. The latter expected to reopen next month, the former is still waiting on the covid-19 situation to improve and the state of California to give them the green light.
Chapek addressed the theme parks at the media conference, stating “There are changes, things we always wanted to do, improvements to the guest experience,” adding that the down time has allowed them to address these long desired goals and implement them when the parks reopen.
The company’s CEO is optimistic, as are investment firms on Wall Street, that the consumer demand for Disney’s theme parks will rebound quickly once the pandemic has been controlled with widespread vaccine distribution. Many reports anticipate theme park attendance will not only meet pre-pandemic levels by 2022, but will hit record revenue in 2023 when increased attendance meets cost cutting measures.
Chapek stated that the parks will rehire their large workforce once they are allowed to reopen and that they are prepared for the upfront costs of reopening.
Disney’s stock was up 3.14% today and has spent the last week hovering around the company’s all-time high set last week.
