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Disney theme parks post record breaking attendance
Walt Disney Co. had a record-breaking quarter for its US theme parks.
Operating profits at its parks and resorts grew 20% to $805 million in the fiscal first quarter.
Revenue was up 9% percent to $3.9 billion, and attendance rose at Walt Disney World and Disneyland by 7%, both recording quarterly attendance records.
Disney Chief Financial Officer Jay Rasulo said occupancy rate at US park hotels grew 8% to 89% percent, and those guests spent an average 4% more in-room.
The results do not include the period including the measles outbreak at Disneyland in late December as Disney’s first fiscal quarter ended December 27.
Disney CEO Bob Iger yesterday said the fallout from the still growing measles epidemic has not adversely affected attendance.
However, the picture for Disney parks overseas was less rosy.
Revenue fell at Tokyo Disney Resort due to the falling value of the Japanese yen, there were higher operating costs at Hong Kong Disneyland and higher than expected pre-opening costs at Shanghai Disney.
Iger said this year’s opening of the Shanghai park had been put back to early 2016.
"It is more opportune for us given the size of what we are doing, what we are building and the complexity of it and the fact that the weather is better and is after the Chinese Lunar New Year," Iger said.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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