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Disney CEO Bob Chapek on Reopening Walt Disney World


Disney CEO Bob Chapek on Reopening Walt Disney World

Disney CEO, Bob Chapek, spoke with CNBC today on reopening Walt Disney World after their reopening plan presentation at the Orange County Economic Recovery Task Force meeting this morning.


When asked what made Walt Disney World pick the July 11 opening date, more than a month after Universal Studios Orlando and other Orlando theme parks, Chapek responded, "We want to make sure what we present to our guests is going to be the quintessential Disney experience and while we will have a substantially lower number of guests, we make sure we want to do it in a responsible way so they can make those lifelong memories."


CNBC then asked if there is a capacity limit for when Walt Disney World and referenced the Shanghai Disneyland reopening with only 30% capacity and the Disney CEO stated that there is not a specific capacity number as there is no "government guidance as to how dense we can be," but the capacity will be a calculation of the six foot social distancing requirement from the CDC.


The Disney CEO was then asked at what level of capacity does he expect the park to actual become profitable and Chapek stated that he "would not open a park unless we could cover the variable cost of operating and make a contribution to fixed cost and overhead." He believes that he will be able to cover the costs of operating the parks even with limited capacity.


As for what consumer demand Disney is expecting when they reopen Walt Disney World, Chapek explained "We still have a tremendous number of reservations that are on our books for the future and plus the response we've gotten from Shanghai and Disney Springs and the demand has been really really encouraging and I think the world is ready to get back to some magic."


I think we all could use some magic and we can't wait for Walt Disney World to reopen!


 

News & Media Source: CNBC

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