Disney takes $2.6 billion theme park hit amid pandemic
The Walt Disney Co. reported that it took a $2.6 billion hit this quarter due to the pandemic's impact on theme parks.
Disney CEO Bob Chapek said during the Thursday earnings call that Walt Disney World, which reopened last summer to reduced capacity, saw average attendance grow "significantly" into the new quarter. Chapek said capacity at the Florida theme park had been increased, which is now up to 35 percent.
"We have ample demand for our parks," Chapek said. He added that increasing the capacity at open parks and reopening others will be "determined by rate of vaccinations." He also said it is anticipated that masks and social distancing would be required at all theme parks through 2021.
Disneyland in California and Disneyland Paris will be closed for the entirety of the second quarter, but the company expects to reopen Hong Kong Disneyland during the quarter.