Higher average ticket prices boosts business at Disneyland Paris
Strong trading at Disney’s domestic US theme parks helped boost operating income for its parks and resorts division by 20% to $805 million in the three months to December 27.
Parks and Resorts revenues for the first quarter, meanwhile, increased 9% to $3.9 billion.
Higher than expected pre-opening expenses for Shanghai Disney Resort, the impact of a weaker Japanese yen on Tokyo Disney Resort royalties and higher costs at Hong Kong Disneyland Resort had dented earnings.
But Disneyland Paris enjoyed an increase in business due to higher guest spending, attendance and occupied room nights.
"The increase in guest spending was driven by higher average ticket prices," explained Disney.
However, the Paris earnings were partially offset by higher costs driven by higher volumes, new guest offerings and marketing costs.
Chief executive Bob Iger told analysts there had been no discernable impact from a measles outbreak, which began at Disneyland California in December.
He confirmed that the opening of the Shanghai Disneyland theme park has been pushed back from late this year to spring 2016.
Overall, Walt Disney Company reported earnings per share up 23% to $1.27 for the quarter.
"Our results once again reflect the strength of our brands and high quality content and demonstrate that our proven franchise strategy creates long-term value across all of our businesses," said Iger.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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