Disney to Close U.S. and Paris Resorts Temporarily as Coronavirus Spurs Cancellations -- Update
13 March 2020 - 12:49PM
Dow Jones News
By R.T. Watson
Walt Disney Co. announced Thursday it is closing its Disneyland
Resort, Walt Disney World Resort and Disneyland Paris as the
coronavirus pandemic caused widespread cancellations of sporting
events and other public gatherings.
The company said that there have been no reported cases of the
disease caused by the new coronavirus at the Disneyland Resort but
added that the closure was "in the best interest of our guests and
employees."
The park in Anaheim, Calif., will close starting Saturday
morning. Walt Disney World in Orlando, Fla., and the company's
resort in Paris will close at the end of business Sunday. All three
resorts will stay closed through the end of the month.
The company also said it was suspending new departures for its
Disney Cruise Line beginning Saturday, a measure that will at least
last until the end of the month.
"We will monitor the ongoing situation and follow the advice and
guidance of federal and state officials and health agencies," the
company said. "Disney will continue to pay cast members during this
time."
Earlier Thursday, California imposed a ban on public gatherings
of more than 250, but exempted movie theaters, theme parks and
casinos.
Gov. Gavin Newsom praised Disney's decision in a statement.
"Disney made the right call in the interest of public health and
agreed to shut down their California parks," Mr. Newsom said.
"Expect more announcements like this shortly."
Disney's parks in Shanghai, Hong Kong and Tokyo had already
closed because of the coronavirus outbreak, which originated in
mainland China.
At a shareholders' meeting Wednesday, Disney Executive Chairman
Robert Iger tried to minimize fears related to the coronavirus,
saying: "Throughout our company's nearly century long history,
Disney has been through a lot, including wars, economic downturns
and natural disasters."
Disney's theme parks represent the company's largest business
segment, with its U.S. and international parks generating a
combined $21.6 billion in revenue in the fiscal year that ended in
September. Based on annual visitors, Disney is the world's largest
theme park operator, hosting more than 150 million every year,
according to rankings published by the Themed Entertainment
Association trade group.
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(END) Dow Jones Newswires
March 12, 2020 21:34 ET (01:34 GMT)
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