Did Florida Theme Parks Open Too Soon?
All but one of Florida's theme park resorts are now open, nearly three months after the industry shut down in the wake of the coronavirus outbreak. SeaWorld Entertainment (NYSE: SEAS) became the latest operator when it opened all five of its gated attractions in Orlando and Tampa on Thursday morning.
Only industry bellwether Walt Disney (NYSE: DIS) is still swinging away in the on-deck circle before stepping up to the plate next month. Disney World will begin a phased reopening of its attractions on July 11 and will fully open all four of its theme parks by July 15.
The timing of the industry's reawakening is suboptimal. After weeks of subsiding, COVID-19 cases are on the rise in June. This will be a record week for new confirmed cases. The news isn't all grim. Broader testing finds the percentage of positive cases far below April's peak. Death rates also continue to run well below earlier highs. However, despite precautions to make the park-going experience as safe as possible, it's easy to wonder if Central Florida's hotbed of theme parks is opening too soon. It's a question that has to be burning in the minds of investors in the park operators -- as well as folks with positions in hotel operators, airline carriers, car rental agencies, and all the other businesses that lean on a healthy attractions industry to succeed.
Source Fool.com
