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NEWS
Disney's Parks and Resorts division performs well with strong overseas growth
POSTED 09 Aug 2017 . BY Tom Anstey
An increase in visitor spending at Disney's Shanghai and Paris resorts has contributed to strong growth for the company's parks and resorts division, according to its latest earnings report.

Third-quarter revenues rose 12 per cent to nearly US$5bn (€4.17bn, £3.76bn), with growth coming from Disney’s overseas parks, including Shanghai Disney Resort, which has now welcomed more than 13 million guests.

Operating income increased by 18 per cent to US$1.17bn (€996m, £899m).

“Today's results reflect our aggressive investment in our parks and resorts business,” said Disney chair Bob Iger.

“Given the success of these investments and their continued attractive returns, we're continuing to leverage our great intellectual property and numerous investments across that businesses.”

The increase at Disney Shanghai reflected a full quarter of operations, compared to the previous year, which included opening costs. Higher income for Disneyland Paris came from increased guest spending and attendance.

Across both parks, the surge in guest spending was a consequence of higher average ticket prices and increases in food, beverage and merchandise spending.

For its parks in the US, increased costs in labour and new guest offerings were offset by increases in visitor numbers and increased spend.

On the cruise front, the company saw a decrease in occupied room nights and lower passenger cruise days due to the dry-docking of the Disney Fantasy cruise ship, which was taken out of service for the refurbishment and conversion of Disney’s vacation club facilities.

In Disney’s third quarter, nine-month results show investments of US$2.4bn (€2.04bn, £1.84bn) in 2017 compared to US$3.3bn (€2.8bn, £2.53bn) for the same period in 2016. The comparative capital expenditure decline of US$963m (€819.7m, £740.1m) was due to lower investment in Shanghai Disney following its opening last year.

Looking at the bigger picture, for the first nine months of the fiscal year, revenues are up 9 per cent from US$12.58bn (€10.7bn, £9.67bn) to US$13.75bn (€11.7bn, £10.56bn). Operating income is also up, increasing year-on-year by 17 per cent, with US$3.03bn (€2.58bn, £2.33bn) compared to US$2.56bn (€2.18bn, £1.97bn).

Overall, Disney recorded revenues for the quarter of US$14.24bn (€12.12bn, £10.94bn), a minor decrease from the year prior at US$14.28bn (€12.15bn, £10.97bn), due to poor trading in its cable network division.

Operating income was US$4.01bn (€3.41bn, £3.08bn), down 10 per cent from US$4.46bn (€3.8bn, £4.43bn) in 2016. For the first nine months of the fiscal year, revenues were US$42.36bn (€36.05bn, £32.55bn), down marginally from US$42.49bn (€36.18bn, £32.65bn). Profits for the period were US$11.96bn (€10.18bn, £9.19bn), down 5 per cent from US$12.54bn (€10.67bn, £9.64bn).
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NEWS
Disney's Parks and Resorts division performs well with strong overseas growth
POSTED 09 Aug 2017 . BY Tom Anstey
An increase in visitor spending at Disney's Shanghai and Paris resorts has contributed to strong growth for the company's parks and resorts division, according to its latest earnings report.

Third-quarter revenues rose 12 per cent to nearly US$5bn (€4.17bn, £3.76bn), with growth coming from Disney’s overseas parks, including Shanghai Disney Resort, which has now welcomed more than 13 million guests.

Operating income increased by 18 per cent to US$1.17bn (€996m, £899m).

“Today's results reflect our aggressive investment in our parks and resorts business,” said Disney chair Bob Iger.

“Given the success of these investments and their continued attractive returns, we're continuing to leverage our great intellectual property and numerous investments across that businesses.”

The increase at Disney Shanghai reflected a full quarter of operations, compared to the previous year, which included opening costs. Higher income for Disneyland Paris came from increased guest spending and attendance.

Across both parks, the surge in guest spending was a consequence of higher average ticket prices and increases in food, beverage and merchandise spending.

For its parks in the US, increased costs in labour and new guest offerings were offset by increases in visitor numbers and increased spend.

On the cruise front, the company saw a decrease in occupied room nights and lower passenger cruise days due to the dry-docking of the Disney Fantasy cruise ship, which was taken out of service for the refurbishment and conversion of Disney’s vacation club facilities.

In Disney’s third quarter, nine-month results show investments of US$2.4bn (€2.04bn, £1.84bn) in 2017 compared to US$3.3bn (€2.8bn, £2.53bn) for the same period in 2016. The comparative capital expenditure decline of US$963m (€819.7m, £740.1m) was due to lower investment in Shanghai Disney following its opening last year.

Looking at the bigger picture, for the first nine months of the fiscal year, revenues are up 9 per cent from US$12.58bn (€10.7bn, £9.67bn) to US$13.75bn (€11.7bn, £10.56bn). Operating income is also up, increasing year-on-year by 17 per cent, with US$3.03bn (€2.58bn, £2.33bn) compared to US$2.56bn (€2.18bn, £1.97bn).

Overall, Disney recorded revenues for the quarter of US$14.24bn (€12.12bn, £10.94bn), a minor decrease from the year prior at US$14.28bn (€12.15bn, £10.97bn), due to poor trading in its cable network division.

Operating income was US$4.01bn (€3.41bn, £3.08bn), down 10 per cent from US$4.46bn (€3.8bn, £4.43bn) in 2016. For the first nine months of the fiscal year, revenues were US$42.36bn (€36.05bn, £32.55bn), down marginally from US$42.49bn (€36.18bn, £32.65bn). Profits for the period were US$11.96bn (€10.18bn, £9.19bn), down 5 per cent from US$12.54bn (€10.67bn, £9.64bn).
RELATED STORIES
Disney unveils 'Magic Bench' mixed reality technology


Disney's research and development arm has revealed a new mixed reality technology concept – a bench which allows people to see, hear and interact with virtual characters in the real world.
Disney legend Marty Sklar dies aged 83


Marty Sklar – the legendary Disney Imagineer and IAAPA Hall of Famer who played a part in the creation of almost every Disney theme park – has died aged 83.
Disney Union Announces it will seek a living wage as a ‘path out of poverty’


The Service Trades Council Union (STCU) – an umbrella organisation representing 36,000 Disney World Resort employees in Florida – is planning to hold talks with the company to discuss increasing their wages.
Star Wars hotel, Pixar Pier and Mickey Mouse ride among D23 announcements


Disney has announced a slew of new additions for its parks worldwide, including a Star Wars hotel, Marvel and Pixar attractions, and the very first ride for the company's iconic figurehead, Mickey Mouse.
MORE NEWS
Michael Jackson's estate files trademark for possible museum venture
The estate for Michael Jackson has filed a trademark application indicating future plans to open a museum attraction dedicated to the pop icon.
IAAPA 2017: Universal's Thierry Coup on taking immersive design to the next level
The man behind Universal Studios’ most successful visitor attractions says operators looking to stay ahead of the curve must go above and beyond to deliver new levels of immersive experiences.
Continuum teams up with The Void to immerse guests in world of Star Wars
UK attractions operator Continuum and free-roam VR company The Void are launching a Star Wars experience in London.
Ardent's Dreamworld operating at profit one year on from horror accident
Ardent Leisure, which has struggled since a tragedy at its Dreamworld park claimed four lives last year, says it has stemmed financial losses.
More news>
LATEST JOBS
Commercial Director- Midway North America
Madame Tussauds
Salary: Competitive
Location: Orlando, FL, United States
General Manager
Sea Life
Salary: Competitive
Location: Concord, NC, United States
Trade Sales Coordinator
Sea Life
Salary: Competitive
Location: Minnesota, United States
Front Office Manager
Legoland
Salary: Competitive
Location: Carlsbad, CA, United States
Senior Profit Protection Manager
Merlin Entertainments Group
Salary: Competitive
Location: New York, NY, United States
Head of Operations
Madame Tussauds
Salary: Competitive
Location: New York, NY, United States



 
 
ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2017

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NEWS
Disney's Parks and Resorts division performs well with strong overseas growth
POSTED 09 Aug 2017 . BY Tom Anstey
An increase in visitor spending at Disney's Shanghai and Paris resorts has contributed to strong growth for the company's parks and resorts division, according to its latest earnings report.

Third-quarter revenues rose 12 per cent to nearly US$5bn (€4.17bn, £3.76bn), with growth coming from Disney’s overseas parks, including Shanghai Disney Resort, which has now welcomed more than 13 million guests.

Operating income increased by 18 per cent to US$1.17bn (€996m, £899m).

“Today's results reflect our aggressive investment in our parks and resorts business,” said Disney chair Bob Iger.

“Given the success of these investments and their continued attractive returns, we're continuing to leverage our great intellectual property and numerous investments across that businesses.”

The increase at Disney Shanghai reflected a full quarter of operations, compared to the previous year, which included opening costs. Higher income for Disneyland Paris came from increased guest spending and attendance.

Across both parks, the surge in guest spending was a consequence of higher average ticket prices and increases in food, beverage and merchandise spending.

For its parks in the US, increased costs in labour and new guest offerings were offset by increases in visitor numbers and increased spend.

On the cruise front, the company saw a decrease in occupied room nights and lower passenger cruise days due to the dry-docking of the Disney Fantasy cruise ship, which was taken out of service for the refurbishment and conversion of Disney’s vacation club facilities.

In Disney’s third quarter, nine-month results show investments of US$2.4bn (€2.04bn, £1.84bn) in 2017 compared to US$3.3bn (€2.8bn, £2.53bn) for the same period in 2016. The comparative capital expenditure decline of US$963m (€819.7m, £740.1m) was due to lower investment in Shanghai Disney following its opening last year.

Looking at the bigger picture, for the first nine months of the fiscal year, revenues are up 9 per cent from US$12.58bn (€10.7bn, £9.67bn) to US$13.75bn (€11.7bn, £10.56bn). Operating income is also up, increasing year-on-year by 17 per cent, with US$3.03bn (€2.58bn, £2.33bn) compared to US$2.56bn (€2.18bn, £1.97bn).

Overall, Disney recorded revenues for the quarter of US$14.24bn (€12.12bn, £10.94bn), a minor decrease from the year prior at US$14.28bn (€12.15bn, £10.97bn), due to poor trading in its cable network division.

Operating income was US$4.01bn (€3.41bn, £3.08bn), down 10 per cent from US$4.46bn (€3.8bn, £4.43bn) in 2016. For the first nine months of the fiscal year, revenues were US$42.36bn (€36.05bn, £32.55bn), down marginally from US$42.49bn (€36.18bn, £32.65bn). Profits for the period were US$11.96bn (€10.18bn, £9.19bn), down 5 per cent from US$12.54bn (€10.67bn, £9.64bn).
RELATED STORIES
Disney unveils 'Magic Bench' mixed reality technology


Disney's research and development arm has revealed a new mixed reality technology concept – a bench which allows people to see, hear and interact with virtual characters in the real world.
Disney legend Marty Sklar dies aged 83


Marty Sklar – the legendary Disney Imagineer and IAAPA Hall of Famer who played a part in the creation of almost every Disney theme park – has died aged 83.
Disney Union Announces it will seek a living wage as a ‘path out of poverty’


The Service Trades Council Union (STCU) – an umbrella organisation representing 36,000 Disney World Resort employees in Florida – is planning to hold talks with the company to discuss increasing their wages.
Star Wars hotel, Pixar Pier and Mickey Mouse ride among D23 announcements


Disney has announced a slew of new additions for its parks worldwide, including a Star Wars hotel, Marvel and Pixar attractions, and the very first ride for the company's iconic figurehead, Mickey Mouse.
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2017

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS