COVID-19 & Coasters: Coronavirus Impacts on the Amusement Industry
- Thread starter GrandpaD
- Start date
Six Flags financial problems are more with long term debt than with a short term cash crunch. They are actually pretty well situated to survive this crisis and look like they could service their debt and operations for a year or more. SEAS I’m not as sure about as their cash position is pretty weak and they have a lot of operating expenses that aren’t easy to trim.
Unless you can source something im calling hogwash. Without paying to operate the parks, expenses should be much lower
Go read their financial statements. The big things that matter are current assets (particularly cash) less inventory, operating expenses, and interest expenses. Assume effectively zero income coming in and you can see how long until money runs out and they are insolvent.
Obviously SEAS can furlough a lot of employees, but they can’t furlough their animals which are a major expense. Those animals have to be fed and cared for regardless of whether the parks are open. Rides OTOH can be shutdown and reduced to minimal maintenance as necessary to avoid long term damage.
But the party in The Magic Kingdom continues tonight. Right now there is a DJ playing in the hub for a cheerleading private event till 2am.
All Disney World Resort Hotels to close on Friday. Disney run stores at Disney Springs also are closing this week. This is not good.
For places with on property hotels, reopening is going to to be a complete shit show IMO. These places regularly try to operate at 70-80% capacity (some operate at like 95%); so all these people not able to visit now means either they are going to have a rush of people coming at almost all the hotels trying to make up for lost time or they will all want refunds on their trips and that's lost revenue.
I'm curious as to the impact of Disney/Universal partnered off-property hotels. I know it came up in the BGW specific thread, and the reason I think that BGW won't have any obligation is because their site doesn't direct visitors to specific hotels. Meanwhile Disney/Universal's sites do so, so if they offer refunds from their own hotels, but their partner hotels do not, that it can cause some issues for them because they directed people to those hotels based on the partner status.
Additionally, and this one is hard to say, but if, if, the parks are able to open this year, I might think weekends to be more crowded than usual because some people that bought single day tickets with the intention to use them now might end up using them late summer. I know there's no way to confirm that ahead of time, as people might still be too nervous to go out and lessen the crowds. So I would say it might be smarter for pass members at parks to go on typically non-peak days to help alleviate the strain of the beyond normal sized crowds. Then again, maybe they see lesser crowds than normal and it would become a moot point.
I'm curious as to the impact of Disney/Universal partnered off-property hotels. I know it came up in the BGW specific thread, and the reason I think that BGW won't have any obligation is because their site doesn't direct visitors to specific hotels. Meanwhile Disney/Universal's sites do so, so if they offer refunds from their own hotels, but their partner hotels do not, that it can cause some issues for them because they directed people to those hotels based on the partner status.
Additionally, and this one is hard to say, but if, if, the parks are able to open this year, I might think weekends to be more crowded than usual because some people that bought single day tickets with the intention to use them now might end up using them late summer. I know there's no way to confirm that ahead of time, as people might still be too nervous to go out and lessen the crowds. So I would say it might be smarter for pass members at parks to go on typically non-peak days to help alleviate the strain of the beyond normal sized crowds. Then again, maybe they see lesser crowds than normal and it would become a moot point.
Just got word that the Universal Orlando Resort executives are in a meeting right now to determine what to do with the hotels.
There was talk yesterday morning that they were gonna consolidate the remaining guests into two resorts as they were only at 30% occupancy for all hotels on property but that was while the park was still open. Now that the CDC latest announcement is calling for more social distancing measures and with WDW announcing the closing of Disney Springs and their resort hotels this Friday it seems Universal will be doing the same.
There was talk yesterday morning that they were gonna consolidate the remaining guests into two resorts as they were only at 30% occupancy for all hotels on property but that was while the park was still open. Now that the CDC latest announcement is calling for more social distancing measures and with WDW announcing the closing of Disney Springs and their resort hotels this Friday it seems Universal will be doing the same.
That is the clickbait headline, the real deal is they were told they can leave on the spot so they can prepare and make their arrangements to leave.
Universal Orlando closing the rest down - CityWalk and their hotels -
Cant even have my Voodoo Doughnuts now either 
I guess it's for the greater good.
I guess it's for the greater good.
Ample Hills Creamery has filed bankruptcy....
Yikes. I’m guessing we’ll see a lot more parks extend their closures now.
NOT good for the industry. And Trump saying that this crisis could creep into the peak summer months of July and August is making it seem like things are gonna get worse.
I’m actually scared that we may not see the Grand Carnivale happen at KD this year.
Looks like it didn't have anything to do with Corona. Still sad. ?
Wildly Popular Brooklyn-Based Ice Cream Maker Ample Hills Files for Bankruptcy
The move has nothing to do with coronavirus or lack of demand for their product.
www.brownstoner.com
I’m not sure if this is the right thread, or if a new one should be created but: 9to5Mac reported that an analyst is saying that amid the coronavirus; now might be the perfect time for Apple to buy Disney. https://apple.news/AxHTpmMWETIq6VRmgPIM8-g