Disney's tourism business has come to a halt because of the coronavirus. Disney is closing Walt Disney World, its flagship theme park resort in Orlando, Florida, because of the global pandemic. The company also announced the closure of Disneyland Paris. Earlier on Thursday the company said it was closing it's Disneyland resort in Anaheim, California. The virus, which has spread worldwide, has now closed the gates of all eleven Disney theme parks across North America, Europe and Asia.
"In the best interest of our guests and employees, we are proceeding with the closure of our theme parks at Walt Disney World Resort in Florida and Disneyland Paris Resort, beginning at the close of business on Sunday, March 15, through the end of the month," a Disney spokesperson said in a statement.
Shortly after Disney announced the closure of its Florida parks, Universal Orlando Resort announced it too would temporarily close its theme parks starting at the close of business on March 15. The Magic Kingdom at Walt Disney World is the world's most-visited theme park, with more than 20 million visitors in 2018. The company has invested billions in its theme park division, opening two new Star Wars lands last year.
The parks are a major driver of the company's entertainment business: Disney made more than $26 billion in sales at its Parks. The closure comes at a moment of major transition for Disney. Just 16 days ago, Bob Iger stepped down as the company's CEO, naming Bob Chapek as his replacement, whose previous role was chairman of Disney Parks.
In the announcement, Disney added that its hotels at Disney World and Disneyland Paris will remain open until further notice and that it will pay its cast members during the closure period. The sudden closure of Disney's Florida and California parks is just the latest sign of a tourism industry in freefall.
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