If you ever been to Orlando or think about the city, ever since Walt Disney World opened up the city has been one of the biggest tourist draws in the country. There are thousands of hotel rooms, a number of theme parks and everything connected to the city is the opposite of how to control the COVID. The idea of physical distancing in a park is very tough because the parks draw millions of people a year. Ever since the shutdown took place, we went through prime time vacations in the area and hundreds of millions of dollars have been lost in revenue. In an article by Mike Schneider of Reuters, Orange County Controller Phil Diamond said, the county’s tax collections on hotels and vacation rentals in April dropped 97% from the same month in 2019. In terms of people, more than 2 million Floridians have filled jobless claims since mid-March.
All the parks are reopen with the Disney opening and wearing a mask is required. For the early arrivals, wait times seemed longer because of social distancing to get to the ride, as well as the ride ran with riders in it.
Linking to dividend paying stocks, we all take much for granted. Ever since Disney World opened the area in and around Orlando has been a wonderful place for tourists and tourist investments. The airport has been smaller and larger planes flying into Orlando to feed the tourist trade. All the way to mid-March, the area of Orlando has been rated as an excellent place to invest in. Things changed rapidly, but larger organizations have been able to adjust to the new realities. It does not make it easier, but the companies adjusted. Fortunately if you owned Disney shares, the parks were losing money, but the subscription Disney channel was making more money than expected. Diversification can be a good thing, but we all like what is considered normal.
There are more questions than answers, till the next time – to raising questions.