Disney’s parks and cruise line benefit from higher prices
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Higher ticket prices to visit Disney’s theme parks or go on one of its cruises has helped the Walt Disney Company see third quarter growth.
The company’s Parks & Resorts division saw a 3% increase in revenues to US$5.51bn (GBP3.2bn) during the third quarter, with operating income up 23% to US$848m (GBP503m).
For the nine months up to 28 June revenue was up 3% year-on-year to US$15.93bn while operating income soared 20% to US$1.97bn.
Increased and higher spend and attendance at its US theme parks and cruise line, along with the timing of Easter helped improve the third quarter results.
However Disneyland Paris saw a dip in visitors and occupied room nights during the three months where ticket prices also increased.
The division had higher costs due to implementing MyMagic+.
Overall the Walt Disney Company, which incorporates the parks, resorts, media networks, films, consumer products and its gaming sales, saw an 8% increase in revenue to US$12.46bn for the third quarter, with segment operating income up 15% to US$3.85bn.
The group has also been eyeing more development in Asia, with including its park in Shanghai and additions to the Hong Kong resort.
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