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NEWS
Disney announces profits up 14 per cent at parks and resorts
POSTED 10 Nov 2017 . BY Alice Davis
Disney's parks and resorts division continues to perform strongly, demonstrated by earnings for the fiscal year filed yesterday (9 November).

The Walt Disney Co, whose financial year ends on 1 October, reported its entire annual revenue was consistent with last year’s at US$55.1bn (€47.3bn, £41.9bn), compared to US$55.6bn for 2016. Net income was similarly flat after adjustments at US$9bn (€7.73bn, £6.83bn), compared to US$9.4bn (€8.07bn, £7.16bn) in 2016.

Disney’s Parks and Resorts division performed well in 2017, its revenues increasing eight per cent year-on-year to US$18.4bn (€15.8bn, £14bn) and profits up 14 per cent to US$3.8bn (€3.3bn, £2.9bn).

The report shows Q4 operating income across all the entertainment giant’s theme parks and hospitality sites globally rose seven per cent to US$746m (€640m, £567m), led by growth at Disneyland Paris and Shanghai Disney Resort.

In the US, domestic takings were hit by Hurricane Irma, which caused Disney’s four Orlando theme parks – Hollywood Studios, Animal Kingdom, Epcot and Magic Kingdom – to close their doors between 9 and 12 September. The two waterparks – Blizzard Beach and Typhoon Lagoon – stayed closed a further day and several cruise itineraries were also shortened or cancelled. That meant income at Walt Disney World was six per cent lower in Q4 this year than in 2016, costing the company an estimated US$100m.

However, US parks did enjoy a two per cent rise in attendance thanks to new attractions like Pandora – World of Avatar at Disney's Animal Kingdom and Guardians of the Galaxy – Mission: BREAKOUT at Disney California Adventure.

Division profits were boosted thanks to strong performances in France and China. Disneyland Paris benefitted from a boost in attendance as it celebrated its 25th year, and Shanghai Disney Resort attracted enough visitors to more than break even in its first year. The Shanghai attraction also saved money on marketing costs compared to the prior year.

Looking forward, the company expects an extra US$1bn of capital expenditure next year as new projects are completed worldwide.

“We continue to make significant investments required to drive long-term growth across our entire company,” said Disney CEO Bob Iger in an earnings call. “In our parks and resorts, for example, we've commissioned three spectacular new cruise ships, which will all be completed between 2021 and 2023.

“We're nearing completion on Toy Story Lands in Shanghai and Orlando, both of which will open by next summer. And major construction continues on our Star Wars Lands in Disneyland and Walt Disney World, which are on schedule to open in 2019.

"We're also adding new attractions in hotels and our resorts around the world, along with cutting-edge technology to enhance the guest experience. We remain optimistic about our future in part because quality truly does matter and the quality of our content, our products and our services set Disney apart.”

You can read the full report here.
RELATED STORIES
Bob Iger to step down from Disney in 2019: 'This time I mean it'


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As Disney reopens its Florida attractions following Hurricane Irma, the operator has announced that it is committing US$2.5m (€2.1m, £1.9m) toward recovery efforts stemming from the devastating storm.
Disney's Parks and Resorts division performs well with strong overseas growth


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.
Double digit growth for Disney as Shanghai boosts results for quarter


Disney’s parks and resorts have enjoyed another strong quarter, with the company experiencing double digit growth in operating profits to US$750m (€689.5m, £579.2m).
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NEWS
Disney announces profits up 14 per cent at parks and resorts
POSTED 10 Nov 2017 . BY Alice Davis
Disney's parks and resorts division continues to perform strongly, demonstrated by earnings for the fiscal year filed yesterday (9 November).

The Walt Disney Co, whose financial year ends on 1 October, reported its entire annual revenue was consistent with last year’s at US$55.1bn (€47.3bn, £41.9bn), compared to US$55.6bn for 2016. Net income was similarly flat after adjustments at US$9bn (€7.73bn, £6.83bn), compared to US$9.4bn (€8.07bn, £7.16bn) in 2016.

Disney’s Parks and Resorts division performed well in 2017, its revenues increasing eight per cent year-on-year to US$18.4bn (€15.8bn, £14bn) and profits up 14 per cent to US$3.8bn (€3.3bn, £2.9bn).

The report shows Q4 operating income across all the entertainment giant’s theme parks and hospitality sites globally rose seven per cent to US$746m (€640m, £567m), led by growth at Disneyland Paris and Shanghai Disney Resort.

In the US, domestic takings were hit by Hurricane Irma, which caused Disney’s four Orlando theme parks – Hollywood Studios, Animal Kingdom, Epcot and Magic Kingdom – to close their doors between 9 and 12 September. The two waterparks – Blizzard Beach and Typhoon Lagoon – stayed closed a further day and several cruise itineraries were also shortened or cancelled. That meant income at Walt Disney World was six per cent lower in Q4 this year than in 2016, costing the company an estimated US$100m.

However, US parks did enjoy a two per cent rise in attendance thanks to new attractions like Pandora – World of Avatar at Disney's Animal Kingdom and Guardians of the Galaxy – Mission: BREAKOUT at Disney California Adventure.

Division profits were boosted thanks to strong performances in France and China. Disneyland Paris benefitted from a boost in attendance as it celebrated its 25th year, and Shanghai Disney Resort attracted enough visitors to more than break even in its first year. The Shanghai attraction also saved money on marketing costs compared to the prior year.

Looking forward, the company expects an extra US$1bn of capital expenditure next year as new projects are completed worldwide.

“We continue to make significant investments required to drive long-term growth across our entire company,” said Disney CEO Bob Iger in an earnings call. “In our parks and resorts, for example, we've commissioned three spectacular new cruise ships, which will all be completed between 2021 and 2023.

“We're nearing completion on Toy Story Lands in Shanghai and Orlando, both of which will open by next summer. And major construction continues on our Star Wars Lands in Disneyland and Walt Disney World, which are on schedule to open in 2019.

"We're also adding new attractions in hotels and our resorts around the world, along with cutting-edge technology to enhance the guest experience. We remain optimistic about our future in part because quality truly does matter and the quality of our content, our products and our services set Disney apart.”

You can read the full report here.
RELATED STORIES
Bob Iger to step down from Disney in 2019: 'This time I mean it'


Disney chief executive Bob Iger has announced his intention to leave the company in 2019, saying “this time I mean it”, after extending his contract as chief executive earlier this year.
Disney commits US$2.5m to recovery effort as parks reopen following Hurricane Irma


As Disney reopens its Florida attractions following Hurricane Irma, the operator has announced that it is committing US$2.5m (€2.1m, £1.9m) toward recovery efforts stemming from the devastating storm.
Disney's Parks and Resorts division performs well with strong overseas growth


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.
Double digit growth for Disney as Shanghai boosts results for quarter


Disney’s parks and resorts have enjoyed another strong quarter, with the company experiencing double digit growth in operating profits to US$750m (€689.5m, £579.2m).
MORE NEWS
National Aquarium worth more than US$450m to Maryland’s economy, study shows
The National Aquarium in Baltimore, Maryland, is the catalyst for US$455m (€386m, £345m) in economic activity across the state every year, a new study has shown.
IAAPA 2017: Brass Ring winners announced
IAAPA has announced its winners for this year’s Brass Ring Awards, recognising a number of companies at the annual IAAPA expo for their achievements in excellence across different parts of the industry.
Shaun the Sheep gets foothold in Japan's attractions market
Aardman has opened two Shaun the Sheep Family Farms in Japan, with one in Osaka and one in the east coast city of Sendai, Miyagi Prefecture.
IAAPA 2017: Creative force behind 'Star Wars: Galaxy's Edge' reveals details of immersive Disney project
Scott Trowbridge, the Disney Imagineer leading the creative vision for its Star Wars-themed projects, has revealed details of the operator’s planned Galaxy’s Edge lands, coming to California and Orlando in 2019.
More news>
LATEST JOBS
Chief Executive
Bristol Zoological Society
Salary: Competitive
Location: Bristol, United Kingdom
Visitor Experience and Site Support Manager
Woburn Safari Park
Salary: Competitive
Location: Woburn, United Kingdom
Head of Marketing
Blackpool Tower
Salary: Competitive
Location: Blackpool, United Kingdom
Centre Assistants - Lee Valley VeloPark
Vibrant Partnerships
Salary: Competitive Hourly Rate
Location: Olympic Park, London
Heritage Capital Project Manager
Tees Valley Combined Authority
Salary: £45,994 - £48,645 per annum
Location: Stockton-on-Tees, United Kingdom
Retail Operations Manager
Crealy Great Adventure Park and Resort
Salary: Up to £30,000 pa
Location: Exeter, United Kingdom



 
 
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 announces profits up 14 per cent at parks and resorts
POSTED 10 Nov 2017 . BY Alice Davis
Disney's parks and resorts division continues to perform strongly, demonstrated by earnings for the fiscal year filed yesterday (9 November).

The Walt Disney Co, whose financial year ends on 1 October, reported its entire annual revenue was consistent with last year’s at US$55.1bn (€47.3bn, £41.9bn), compared to US$55.6bn for 2016. Net income was similarly flat after adjustments at US$9bn (€7.73bn, £6.83bn), compared to US$9.4bn (€8.07bn, £7.16bn) in 2016.

Disney’s Parks and Resorts division performed well in 2017, its revenues increasing eight per cent year-on-year to US$18.4bn (€15.8bn, £14bn) and profits up 14 per cent to US$3.8bn (€3.3bn, £2.9bn).

The report shows Q4 operating income across all the entertainment giant’s theme parks and hospitality sites globally rose seven per cent to US$746m (€640m, £567m), led by growth at Disneyland Paris and Shanghai Disney Resort.

In the US, domestic takings were hit by Hurricane Irma, which caused Disney’s four Orlando theme parks – Hollywood Studios, Animal Kingdom, Epcot and Magic Kingdom – to close their doors between 9 and 12 September. The two waterparks – Blizzard Beach and Typhoon Lagoon – stayed closed a further day and several cruise itineraries were also shortened or cancelled. That meant income at Walt Disney World was six per cent lower in Q4 this year than in 2016, costing the company an estimated US$100m.

However, US parks did enjoy a two per cent rise in attendance thanks to new attractions like Pandora – World of Avatar at Disney's Animal Kingdom and Guardians of the Galaxy – Mission: BREAKOUT at Disney California Adventure.

Division profits were boosted thanks to strong performances in France and China. Disneyland Paris benefitted from a boost in attendance as it celebrated its 25th year, and Shanghai Disney Resort attracted enough visitors to more than break even in its first year. The Shanghai attraction also saved money on marketing costs compared to the prior year.

Looking forward, the company expects an extra US$1bn of capital expenditure next year as new projects are completed worldwide.

“We continue to make significant investments required to drive long-term growth across our entire company,” said Disney CEO Bob Iger in an earnings call. “In our parks and resorts, for example, we've commissioned three spectacular new cruise ships, which will all be completed between 2021 and 2023.

“We're nearing completion on Toy Story Lands in Shanghai and Orlando, both of which will open by next summer. And major construction continues on our Star Wars Lands in Disneyland and Walt Disney World, which are on schedule to open in 2019.

"We're also adding new attractions in hotels and our resorts around the world, along with cutting-edge technology to enhance the guest experience. We remain optimistic about our future in part because quality truly does matter and the quality of our content, our products and our services set Disney apart.”

You can read the full report here.
RELATED STORIES
Bob Iger to step down from Disney in 2019: 'This time I mean it'


Disney chief executive Bob Iger has announced his intention to leave the company in 2019, saying “this time I mean it”, after extending his contract as chief executive earlier this year.
Disney commits US$2.5m to recovery effort as parks reopen following Hurricane Irma


As Disney reopens its Florida attractions following Hurricane Irma, the operator has announced that it is committing US$2.5m (€2.1m, £1.9m) toward recovery efforts stemming from the devastating storm.
Disney's Parks and Resorts division performs well with strong overseas growth


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.
Double digit growth for Disney as Shanghai boosts results for quarter


Disney’s parks and resorts have enjoyed another strong quarter, with the company experiencing double digit growth in operating profits to US$750m (€689.5m, £579.2m).
 


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