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NEWS
Iger downplays Orlando problems as Disney records strong Q3 earnings
POSTED 10 Aug 2016 . BY Tom Anstey
Iger says that overall international visitation so far hasn’t dropped significantly, though some individual markets are being affected Credit: Alex Gallardo/AP/Press Association Images
Despite a decline in theme park attendance, Disney has recorded strong overall earnings following the release of its Q3 results.

Overall theme park revenue for the company increased 6.6 per cent to US$4.4bn (€3.9m, £3.4m), with spend per visitor increasing. Operating income also rose 8 per cent to US$994m (€888.4m, £759.6m), though those numbers were partially offset by a decrease for Disney’s overseas operations.

Internationally, Disney’s new Shanghai opening has been very successful so far, with the company reporting 95 per cent occupancy rates and visitors staying two hours longer on average than expected. Hong Kong Disneyland also saw improved results, though operating income was lower at Disneyland Paris.

“There've been some foreign exchange issues that we've seen, but – and clearly what's happened in Europe on the terrorism front has put a damper on the Paris results,” said Disney CEO Bob Iger, speaking during an earnings call. “I think the long-term trajectory of this business is quite strong.”

According to Disney, the timing of the Easter holiday was largely to blame for a 4 per cent drop year-on-year for Walt Disney World in Florida and Disneyland in California. Because of the holiday falling in March, it was of benefit to Disney’s Q2 results rather than Q3.

Despite Orlando facing a mire of problems, including a Brazilian recession, the Zika virus, Britain’s decision to leave the EU and fears over gun-related violence in the US, Iger said that overall international visitation so far hasn’t dropped significantly, though some markets are being affected.

“While there's a fair amount of concern about the international tourists, the mix of international tourists to our domestic parks hasn't really shifted that much,” said Iger.

“We've had shifts market-to-market. Brazil's had some big issues in the last year for instance. But the mix from international versus domestic attendance is basically in-line with what we've seen. Interestingly enough, Great Britain has been fairly strong, which given what's gone on there, particularly the headlines and the Brexit issue, you'd expect otherwise. But business is quite strong there."
RELATED STORIES
  Problems pile up for Orlando as Brexit, Brazil, Zika and safety could affect tourism


Britain’s decision to leave the European Union (EU), Brazil’s recession, the Zika virus in Florida and heightened tensions in the wake of acts of violence in the US, are having an adverse effect on Orlando’s economy.
  Anaheim approves US$550m tax break for luxury Disneyland hotels


Disney and property developer Wincome Group will receive a combined US$550m (€493.5m, £411.3m) tax break to build three new four-star hotels at Disneyland in California.
  Disney offers new look at upcoming Star Wars lands


Disney has revealed a new artist's impression for its Star Wars lands being built at its theme parks in Florida and California.
  Tokyo Disney Resort plans ¥250bn expansion in bid to draw more visitors


Kyoichiro Uenishi, president of Tokyo Disney Resort operator Oriental Land Co, has said the company is planning to introduce a raft of premier new attractions as it aims to increase annual visitor numbers by 10 per cent over the next decade.
MORE NEWS
Efteling to convert steam trains to electric as part of green drive
The Everyday Heritage initiative celebrates and preserves working class histories
Off the back of the success of the first round of Everyday Heritage Grants in 2022, Historic England is funding 56 creative projects that honour the heritage of working-class England.
Universal announces long-awaited details of its Epic Universe, set to open in 2025
Universal has revealed it will be adding new Harry Potter attractions, alongside Super Nintendo and How to Train Your Dragon worlds to its Florida resort.
Heartbreak for Swedish theme park, Liseberg, as fire breaks out
A fire has destroyed part of the new water world, Oceana, at Liseberg in Sweden, and a construction worker has been reported missing.
+ More news   
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NEWS
Iger downplays Orlando problems as Disney records strong Q3 earnings
POSTED 10 Aug 2016 . BY Tom Anstey
Iger says that overall international visitation so far hasn’t dropped significantly, though some individual markets are being affected Credit: Alex Gallardo/AP/Press Association Images
Despite a decline in theme park attendance, Disney has recorded strong overall earnings following the release of its Q3 results.

Overall theme park revenue for the company increased 6.6 per cent to US$4.4bn (€3.9m, £3.4m), with spend per visitor increasing. Operating income also rose 8 per cent to US$994m (€888.4m, £759.6m), though those numbers were partially offset by a decrease for Disney’s overseas operations.

Internationally, Disney’s new Shanghai opening has been very successful so far, with the company reporting 95 per cent occupancy rates and visitors staying two hours longer on average than expected. Hong Kong Disneyland also saw improved results, though operating income was lower at Disneyland Paris.

“There've been some foreign exchange issues that we've seen, but – and clearly what's happened in Europe on the terrorism front has put a damper on the Paris results,” said Disney CEO Bob Iger, speaking during an earnings call. “I think the long-term trajectory of this business is quite strong.”

According to Disney, the timing of the Easter holiday was largely to blame for a 4 per cent drop year-on-year for Walt Disney World in Florida and Disneyland in California. Because of the holiday falling in March, it was of benefit to Disney’s Q2 results rather than Q3.

Despite Orlando facing a mire of problems, including a Brazilian recession, the Zika virus, Britain’s decision to leave the EU and fears over gun-related violence in the US, Iger said that overall international visitation so far hasn’t dropped significantly, though some markets are being affected.

“While there's a fair amount of concern about the international tourists, the mix of international tourists to our domestic parks hasn't really shifted that much,” said Iger.

“We've had shifts market-to-market. Brazil's had some big issues in the last year for instance. But the mix from international versus domestic attendance is basically in-line with what we've seen. Interestingly enough, Great Britain has been fairly strong, which given what's gone on there, particularly the headlines and the Brexit issue, you'd expect otherwise. But business is quite strong there."
RELATED STORIES
Problems pile up for Orlando as Brexit, Brazil, Zika and safety could affect tourism


Britain’s decision to leave the European Union (EU), Brazil’s recession, the Zika virus in Florida and heightened tensions in the wake of acts of violence in the US, are having an adverse effect on Orlando’s economy.
Anaheim approves US$550m tax break for luxury Disneyland hotels


Disney and property developer Wincome Group will receive a combined US$550m (€493.5m, £411.3m) tax break to build three new four-star hotels at Disneyland in California.
Disney offers new look at upcoming Star Wars lands


Disney has revealed a new artist's impression for its Star Wars lands being built at its theme parks in Florida and California.
Tokyo Disney Resort plans ¥250bn expansion in bid to draw more visitors


Kyoichiro Uenishi, president of Tokyo Disney Resort operator Oriental Land Co, has said the company is planning to introduce a raft of premier new attractions as it aims to increase annual visitor numbers by 10 per cent over the next decade.
MORE NEWS
Efteling to convert steam trains to electric as part of green drive
The Everyday Heritage initiative celebrates and preserves working class histories
Off the back of the success of the first round of Everyday Heritage Grants in 2022, Historic England is funding 56 creative projects that honour the heritage of working-class England.
Universal announces long-awaited details of its Epic Universe, set to open in 2025
Universal has revealed it will be adding new Harry Potter attractions, alongside Super Nintendo and How to Train Your Dragon worlds to its Florida resort.
Heartbreak for Swedish theme park, Liseberg, as fire breaks out
A fire has destroyed part of the new water world, Oceana, at Liseberg in Sweden, and a construction worker has been reported missing.
Museum director apologises after comparing the city of Florence to a sex worker
Museum director Cecilie Hollberg has come under fire for comparing the city to a sex worker due to uncontrolled mass tourism.
Populous reveals plans for major e-sports arena in Saudi Arabia
Populous have unveiled their plans for a state-of-the-art e-sports arena, designed to stand as a central landmark in Qiddaya City’s gaming and e-sports district, Saudi Arabia.
+ More news   
 
COMPANY PROFILES
Polin Waterparks

Polin was founded in Istanbul in 1976. Polin has since grown into a leading company in the waterpa [more...]
DJW

David & Lynn Willrich started the Company over thirty years ago, from the Audio Visual Department [more...]
ProSlide Technology, Inc.

A former national ski team racer, ProSlide® CEO Rick Hunter’s goal has been to integrate the smoot [more...]
TechnoAlpin

TechnoAlpin is the world leader for snowmaking systems. Our product portfolio includes all different [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

08-08 May 2024

Hospitality Design Conference

Hotel Melià , Milano , Italy
10-12 May 2024

Asia Pool & Spa Expo

China Import & Export Fair Complex, Guangzhou, China
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024

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