Universal Studios Extends Closure of Theme Parks Through at Least May 31

Universal Studios extended the closure of two theme parks through at least May 31. It had closed them March 14.
Author:
Publish date:

Comcast-owned  (CMCSA) - Get Report Universal Studios said it was extending the closure of its Universal Orlando Resort and Universal Studios Hollywood through at least May 31.

The company is not offering refunds for tickets purchased before the closure was announced, but it will allow ticket holders for the closed dates to use those tickets through Dec. 18, 2020. 

Ticket buyers who cannot visit during that period can apply the value of the tickets toward a new purchase, Universal said. 

Those with annual season passes that were paid in full at the time of purchase will be extended for the number of days the theme parks are closed. 

Employees at the parks will be paid through April 19; after that, "nearly all" staff will be paid at 80% salary, with the park asking employees to "adjust their work accordingly," the company said in a statement.

"A small group of team members will be asked to continue working at 100% and will continue to be paid at that level," Universal said. 

"We have also made the difficult decision that we will furlough our part-time hourly workers beginning May 3. During this time, we will fully cover the cost of benefit plans for those team members who have them," Universal told Variety in a statement. 

Universal and Disney  (DIS) - Get Report both closed their parks after California Gov. Gavin Newsom issued guidance that canceled gatherings of 250 people or more. 

Shares of Comcast, Philadelphia, have struggled since late February, falling nearly 20% since that time. The company also has halted production of movies due to the coronavirus pandemic.