Tokyo Disneyland Park, with Legoland and Universal Studios was closed due to the increasing spread of the Corona Virus or COVID-19 in Japan.
Tokyo Disneyland and DisneySea, as quoted by CNN, are closed starting today, Saturday (2/29/2020) until the next two weeks (3/15/2020). Thus a statement from Oriental Land, the operator of Tokyo Disneyland.
This closure is a form of response from the Japanese government’s call for each party to cancel or postpone large meetings and events that were attended by many people over the next few weeks to prevent the spread of COVID-19. As for the vehicle visit ticket and booking a stay at Tokyo Resort that has been paid by visitors will be returned.
Such conditions of closure due to the Corona Virus did not occur, a thematic park in Tokyo that featured Walter Elias Disney’s work would make a lot of profit during the winter holidays now. At least estimated to reach around 280 million United States dollars from this quarter alone. And added by the company, that the COVID-19 attack would damage profits for the entire fiscal year.
While quoted from USA Today, Tokyo Disneyland is the third Disney-owned property in Asia that was closed after Hong Kong Disneyland and Shanghai Disneyland. Even the two thematic parks, each located on Lantau Island, not far from Macau and mainland China, have been closed since January 26, 2020. The reference is the Chinese government’s decision to quarantine ahead of the Chinese New Year or Sinchia.
Christine McCarthy, Chief Financial Officer of Disneyland theme park said that the company will feel the impact of the closure of its tourist rides in Shanghai and Hong Kong in the results of the second quarter and full year. The amount is translucent to 175 million US dollars, with estimates that two Disneyland in the Chinese government are closed for two months until the second quarter.
“For the Shanghai Disney Resort, we currently estimate the adverse impact on operating income in the second quarter to reach around 135 million dollars. In Hong Kong Disneyland, around 40 million dollars for the second quarter. The exact magnitude of the financial impact depends greatly on the duration of the closure, and how fast we can continue operations normally, “he said.
For the record, Walt Disney company has a 47 percent stake in Hong Kong Disneyland. While Shanghai Disneyland is a joint venture with China and is divided into two companies. Disney holds a 70 percent stake in the first company, and 43 percent in the second company.