Disney recently released its first-quarter financial statement and as can be expected, domestic parks revenue was down 70%, with international park revenue down 60% with loses in this segment topping $1 Billion. However, though this certainly isn’t the most cheerful news, Disney is looking ahead to the future, and during an earnings call CEO Bob Chapek said the following about lifting capacity caps and reopening closed parks:
In terms of the outlook for the parks for the rest of the year, and the capacity, it’s really going to be determined by the rate of vaccination of the public. That seems like the biggest lever that we can have in order to either take the parks that are currently under limited capacity and increase it, or open up parks that are currently closed.
In addition to his comments about rising vaccination rates paving the way for more guests to visit Disney Parks, Chapek also confirmed that masks and social distancing policies will still be in effect at Disney parks at least through the end of the year.
Of course, this is hardly surprising as many are expecting 2022 to be a big year for theme parks and other destinations as pent up demand is predicted to lead to record travel. And though many Disney theme parks are still shuttered and guests levels are still low, hopefully by this time next year all of these restrictions will be a thing of the past!
