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Disney World Stock

Cinderella Castle and Main Street, U.S.A. are seen at Walt Disney World Resort’s Magic Kingdom on … [+] Sunday, August 9, 2020, in Lake Buena Vista, Fla. (Photo by Charles Sykes/Invision/AP)

Charles Sykes/Invision/AP

The Walt Disney Company
DIS
has had a rough year because of the ongoing coronavirus pandemic. With their parks and resorts shuttered for months and movie studios shut down, the company lost billions in revenue. While the company has remained optimistic about bouncing back, Deutsche Bank analysts say it could be 2023 before before Disney theme park revenue could return to pre-coronavirus levels. In fiscal year 2020 Disney Parks, Experiences and Products is predicted to decline $9.8 billion, according to the report.

During a webcast at the Bank of America Virtual 2020 Media, Communications and Entertainment Conference, Disney’s current chief financial officer Christine McCarthy mentioned some of Disney’s current priority projects at the theme parks. The webcast also mentioned the success of Disney+ and the ongoing controversy around Disney’s live-action Mulan, which McCarthy said, “Let me just put something into context. The real facts are that Mulan was primarily shot — almost in entirety — in New Zealand. In an effort to accurately depict some of the unique landscape and geography of the country of China for this period drama, we filmed scenery in 20 different locations in China. It’s common knowledge that, in order to film in China, you have to be granted permission. That permission comes from the central government.”

D23 EXPO

Models of the Millennium Falcon, front, and the Halcyon ship from Star Wars: Galactic Starcruiser, a … [+] multiday experience at Walt Disney World, are displayed during a media preview of the D23 Expo 2019 in Anaheim, California, U.S., on Thursday, Aug. 22, 2019. Walt Disney Co. is turning the D23 Expo, the biennial fan conclave, into a big push for its new streaming services. Photographer: Patrick T. Fallon/Bloomberg

© 2019 Bloomberg Finance LP

On the Disney theme parks, McCarthy mentioned there were some projects that were flagged as a priority. McCarthy specifically mentioned three projects that Disney saw as priority: Star Wars: Galactic Starcruiser at the Walt Disney World Resort, and Avengers Campus and Mickey and Minnie’s Runaway Railway at the Disneyland Resort. Other projects that are currently under construction are also important for Disney to finish, such as Remy’s Ratatouille Adventure and Guardians of the Galaxy: Cosmic Rewind at Walt Disney World’s Epcot.

Star Wars: Galactic Starcruiser will allow guests to be fully immersed in a Star Wars story on a two-night stay at the new hotel. The experience will have people coming face-to-face with their favorite Star Wars characters, experiencing new foods from around the galaxy, and even the opportunity to see the command center of the ship. Guest staying at the Galactic Starcruiser will also have one “port day” where they will be able to go to Star Wars: Galaxy’s Edge at Disney’s Hollywood Studios. Disney originally announced the opening date for Star Wars: Galactic Starcruiser would be 2021. This could still happen, but is predicted to be in the second half of the year.

Disney D23 Expo

ANAHEIM, CA – AUGUST 22: Rendering of Disney California Adventure”u2019s upcoming Marvel-themed … [+] land named Avengers Campus during a media preview at the D23 Expo in Anaheim, CA, on Thursday, Aug. 22, 2019.”n(Photo by Jeff Gritchen/MediaNews Group/Orange County Register via Getty Images)

MediaNews Group via Getty Images

Avengers Campus construction was halted at Disneyland when the resort closed due to the pandemic, but has recently picked up again. A major milestone for the land, the Quinjet, was installed by Walt Disney Imagineering in August. The land will feature a two-phase opening much like Star Wars: Galaxy’s Edge. The first phase will include an all new Spider-Man attraction, merchandise locations, food and beverage spots, and stunt shows with appearances by Marvel characters. The second phase will debut a brand new attraction featuring multiple Marvel characters. Avengers Campus was originally set to open July 18, 2020, but has since been pushed back. Since the Disneyland Resort theme parks have not reopened yet, the new land will likely not debut to guests until 2021.

Mickey and Minnie’s Runaway Railway recently opened at Walt Disney World, and has now gone vertical at the Disneyland Resort. The attraction takes guests into the cartoon world of Mickey and Minnie Mouse, and features new technology created just for that specific ride. The attraction was originally set to debut in 2022, but Disney has announced that it will be pushed back a full year until 2023.

Disney Shanghai Reopens To Limited Visitors As China Recovers From Coronavirus Pandemic

SHANGHAI, CHINA – MAY 11: Riders wearing face masks are seen on the TRON Lightcycle Power Run at … [+] Shanghai Disney Resort after the coronavirus pandemic on May 11, 2020 in Shanghai, China. Walt Disney Co reopened its Shanghai Disneyland park on Monday to a reduced number of visitors, ending a three-month closure caused by the coronavirus outbreak. (Photo by Tang Yanjun/China News Service via Getty Images)

China News Service via Getty Images

Other construction projects like TRON Lightcycle Run and Remy’s Ratatouille Adventure have picked up at Walt Disney World. Both projects were well underway when the resort closed due to coronavirus. McCarthy also mentioned that Disney expects to have a little over 50 percent of it’s hotels and resorts reopened by the end of the fiscal year, which is the end of September.

The Walt Disney Company continues to figure out how to bring guests back into their theme parks and staying for multiple nights at their hotels with new health and safety protocols. While those are a good start, trust in the travel industry and ultimately a vaccine for coronavirus is what’s going to bring more people into the theme parks to be able to experience these three priority items set by Disney.

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