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
AM2
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
 
Attractions Management - Disney's Parks and Resorts division performs well with strong overseas growth...
15 Dec 2017 Attractions Management: industry news and jobs
 
 
HOME
JOBS
NEWS
FEATURES
PRODUCTS
FREE DIGITAL SUBSCRIPTION
PRINT SUBSCRIPTION
ADVERTISE
CONTACT US
Sign up for FREE ezine
Latest news

09 Aug 2017

Disney's Parks and Resorts division performs well with strong overseas growth
BY Tom Anstey

The increase at Shanghai reflected a full quarter of operations compared to the previous year, which included opening costs

The increase at Shanghai reflected a full quarter of operations compared to the previous year, which included opening costs
photo: Xinhua/SIPA USA/PA Images

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).



Connect with
Attractions Management
Magazine:
View issue contents
Sign up:
Instant Alerts/zines

Print edition
 

News headlines
Dubai Safari welcomes guests on soft launch ahead of January opening
Dubai Safari welcomes guests on soft launch ahead of January opening   14 Dec 2017

A safari park in the Middle East is finally complete and set to open its doors to the public from January. To celebrate its launch, Dubai Safari .... more>>
RIBA International Prize longlist revealed, but which leisure buildings are in contention?
RIBA International Prize longlist revealed, but which leisure buildings are in contention?   14 Dec 2017

The Royal Institute of British Architects (RIBA) has today (14 December) announced the RIBA International List 2018, a new biennial selection of the .... more>>
Arts Index sees sharp rise in individual giving to arts and culture in England
Arts Index sees sharp rise in individual giving to arts and culture in England   14 Dec 2017

New research covering the condition of arts and culture provision has recorded a 68 per cent rise in individual giving in England since 2015. .... more>>
Bob Iger extends contract to 2021 as Disney acquires Fox in US$52.4bn mega-deal
Bob Iger extends contract to 2021 as Disney acquires Fox in US$52.4bn mega-deal   14 Dec 2017

Disney has confirmed a US$52.4bn (€44.27bn, £39bn) mega-deal with Fox, acquiring Twentieth Century Fox Film and Television studios, along with Fox's .... more>>
Company profile


WhiteWater

Established in 1980, WhiteWater has evolved from waterpark operations to the largest designer and manufacturer of the most successful waterpark attractions in the world.

View full profile>>

Catalogue gallery






in this issue

• Awards celebrate workforce success
• Operator reveals naming rights strategy
• Harry and Meghan 'potent mix' for tourism



Latest jobs




Duty Manager
Salary: Competitive
Location: Luton, United Kingdom
Company: Jump Arena
Head of Park Operations (maternity cover)
Salary: Competitive
Location: Chessington, United Kingdom
Company: Chessington World of Adventures
Operations Resort Manager
Salary: Competitive
Location: Florida, United States
Company: Legoland
Operations Manager
Salary: Competitive
Location: Las Vegas, NV, United States
Company: Madame Tussauds
Diary dates
Powered by leisurediary.com

11-12 Jan 2018

Spa Marketing Seminar

tbc, Cologne, Germany


12-14 Jan 2018

BodyPower India Expo

Bombay Exhibition Centre, Mumbai, India



Attractions Management magazine 2017 issue 4
Attractions Management
2017 issue 4

View issue contents
View on turning pages
Download PDF
  Mystery shopper: Signed, Sealed, Delivered
Alice Davis took a trip to London’s newest attraction, the Postal Museum and Mail Rail More>>
  Top team: Good Reef!
Meet the team behind Cairns Aquarium and reef research centre, dedicated to life of the adjoining Great Barrier Reef More>>


Attractions Management magazine 2017 issue 3

Attractions Management
2017 issue 3

View issue contents
View turning pages
Download PDF
  Obituary: The Man Who Walked With Walt
We look back at the life of Disney Legend and well-loved Imagineer, Marty Sklar More>>
  On the Cover: Yayoi Kusama
Japanese artist builds her own Museum More>>


Published by The Leisure Media Company Ltd Portmill House, Portmill Lane, Hitchin, Herts SG5 1DJ. Tel: +44 (0)1462 431385 | Contact us | About us | © Cybertrek Ltd