It’s the happiest place on earth. Unfortunately, during a time when we could all use a bit of joy, it could be a while before we can visit Disney World and Disneyland again. A recent report by a top financial analyst predicts that Disney parks won’t be able to open until January 2021 due to the coronavirus pandemic.
“We believe Parks’ profitability will be impaired for a longer period of time given the lingering effects of the outbreak and now assume an opening date of Jan. 1 as our base case,” John Hodulik, managing director of investment research at UBS, wrote in his report. “That said, the economic recession plus the need for social distancing, new health precautions, the lack of travel and crowd aversion are likely to make this business less profitable until there is a widely-available vaccine,” he added.
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However, not all experts agree with this prediction. JPMorgan analyst Alexia Quadrani believes that the entertainment giant’s parks could open as soon as June.
“We’re assuming the parks will open on June 1,” Quadrani told Barrons. Quadrani noted that Disney World hotels are accepting reservations for June 1.
That said, Quadrani predicted that initial attendance in the parks would lag, largely due to the travel bans that have been implemented during the pandemic.
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“First off, you have to take the international attendees,” she said. “I think you have to assume those are not going to be the first ones who come back to Disney World. And I think there will be consumers who are financially strapped, given the economic situation we’ll be in.”
Earlier this month, Walt Disney World in Orlando and Disneyland in Anaheim, California, announced that they would be closed until further notice.