The Orange County Register is reporting that the Disneyland Resort has lost an estimated $2.2 billion in revenue during the COVID-19 closure.
This loss estimation is according to MoffettNathanson founding partner Michael Nathanson.
The Disneyland Resort theme parks and hotels have been closed for more than 200 days. The Downtown Disney District began its phased reopening in July.
According to Nathanson the Disneyland Resort generated an estimated $3.8 billion in revenue in 2019. That comes out to $10.4 million daily.
“One of our core beliefs that we’ve observed in all the previous recessions and crises is that the park recovery takes time,” Nathanson said in April on a conference call. “People don’t instantly, when the economy goes back to growing, go to the parks. They basically look at their family balance sheets, they look at what damage has been incurred and hold on to their cash.”
Disney recently announced 28,000 layoffs company wide. Most of those are from Walt Disney World but Disneyland was also impacted.
Disneyland officials rarely discuss revenue or estimated regarding theme parks.
Source: Orange County Register
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