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Pandemic recovery at Disney theme parks still impacted by reduced operating capacity

Disney theme parks continue to be affected by limited capacities due to the pandemic.

Walt Disney Company reported quarterly operating income from its parks, experiences and products arm of $640 million against a loss of $945 million in the same Covid-affected period to October 3 last year.

Overall company revenue rose by 26% year-on-year to $18.53 billion, with net income of $160 million against a loss of $710 million the same time a year ago.

“Covid-19 and measures to prevent its spread has impacted our segments in a number of ways, most significantly at the Disney parks, experiences and products segment where our theme parks and resorts were closed and cruise ship sailings and guided tours were suspended,” the company said.

“These operations resumed, generally at reduced capacity, at various points since May 2020.

“Although results improved in the second half of fiscal 2021 compared to the second half of fiscal 2020 from reopening our parks and resorts, we continue to be impacted by reduced operating capacities.”

The company reported that the division increased revenues for the quarter to $5.5 billion compared to $2.7 billion in same period last year.

“Operating income for the quarter reflected increases at our domestic and international parks and experiences businesses, partially offset by a decrease at our consumer products business,” the organisation said.

“Revenue and operating income growth was due to the reopening of our parks and resorts, which were open for the entire quarter this year.

“In the prior-year quarter, Shanghai Disney Resort was open for the entire quarter, Walt Disney World Resort and Disneyland Paris were open for approximately 12 weeks, Hong Kong Disneyland Resort was open for approximately four weeks and Disneyland Resort was closed for the entire quarter.

“During the periods our parks and resorts were open, they were generally operating at reduced capacities.”

Walt Disney Company chief executive Bob Chapek said “great strides” had been made in reopening its businesses.

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