Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Hong Kong's Disneyland reopens after five-month coronavirus break

Published 06/18/2020, 04:13 AM
Updated 06/18/2020, 04:33 AM
© Reuters. Social distance at Disneyland after it reopened following a shutdown due to the coronavirus disease (COVID-19) in Hong Kong

HONG KONG (Reuters) - Hong Kong's loss-making Disneyland theme park reopened on Thursday to a limited number of local visitors and with enhanced health measures after the coronavirus outbreak forced it to close in late January.

In contrast to major outbreaks seen in other big cities around the world, Hong Kong has reported a relatively small number of infections, recording 1,121 cases and four deaths. The border remains virtually shut but life is slowly returning to normal.

Dozens of visitors were seen queuing to get into the park on Thursday morning, many of them families with children.

"In the past few months I missed coming here so much," said annual pass holder Vicky Lam, 36, as she waved at staff wearing Disney character costumes.

The park says its shopping and dining locations will have reduced capacity and that it will implement social distancing measures in any queues and throughout its facilities.

It will also carry out disinfection more frequently and make hand sanitisers available for visitors, who are required to go through temperature screening and wear a face mask.

Hong Kong's Disneyland resort, which reported losses for at least the past three years according to annual reports available on its website, is owned by a joint venture, Hongkong International Theme Parks Ltd, in which the local government has 53% stake and Walt Disney (NYSE:DIS) Co holds the rest.

Without tourists, business for Disneyland in Hong Kong is likely to remain subdued. It will have to rely on a domestic market that was struggling with recession after months of often-violent pro-democracy protests even before the coronavirus blow.

Ocean Park, the city's other theme park, reopened on Saturday after lawmakers approved a HK$5.4 billion ($697 million) bailout plan last month to keep it running for another year.

© Reuters. Social distance at Disneyland after it reopened following a shutdown due to the coronavirus disease (COVID-19) in Hong Kong

Shanghai's Disneyland, which is able to attract visitors from outside the city, re-opened in May.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.