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A gloomy third quarter for the theme parks of

Euro Disney S.C.A. with attendance down 7%

Update : 19:18 Published by François Mayné the 9 September 2013, Corporate.

The delicate operational situation of Euro Disney S.C.A. in the first half of its fiscal year 2012-2013 did not improve in the third quarter (ended June 30). Indeed, in a context which remains difficult, the operator of Disneyland Paris reported over this period a further drop in attendance at its theme parks (- 7%) and in occupancy rate of its hotels (- 4.5 points). Therefore, the revenue of tourism activities of the company fell by 1.7% to €351.8 million (approx. $468 million) against €357.7 million in the previous year.

A gloomy third quarter for the activities of Euro Disney S.C.A.

During the third quarter, the turnover of Parc Disneyland and Parc Walt Disney Studios is down 1.5% to stand at €204.7 million, reflecting a decrease in the number of visitors coming from France, Spain, Italy and Belgium. The sluggish economic situation in southern Europe and, to a lesser extent, unfavorable weather conditions in the spring, partly explain this decline in attendance according to the operator that indicates that the activity of special events has slightly offset this fall while the average spending per guest remained stable.

Sales from the activities of the 7 hotels and the 'Disney Village' in the third quarter declined slightly 0.5% to €137.9 million, despite a rise in Disney Village revenues (following the opening of the retail store 'World of Disney') and a 2% increase in average spending per room (due to higher average daily room rates and spending on food and beverage). The decrease in hotel occupancy during the period resulted from 24,000 fewer room nights sold, a consequence of a decrease in the number of Spanish and Italian tourists, partially offset by an increase in the number of French visitors staying overnight on the site.

Disneyland Paris' attendance is down 7% in Q3.

After 9 months, the hotel occupancy rate down 2.7 points or 4800 fewer room nights compared to the FY 2011/2012.

Over the first nine months of the fiscal*, the total turnover of Euro Disney S.C.A. is however up 1% to total €919.8 million (approx $1.2 billion), partly due to a real estate transaction completed in the first quarter. Tourism activities increased slightly by 0.5% to €913 million, far from the 2.3% growth noticed in the same period of previous year.

In the 9-month period, the theme parks' sales shows a 0.7% increase to €516 million. This is mainly due to the increase in average spending per guest (resulted from higher spending on admissions and F&B) that is however offset by a 4% decline in attendance due to the lower number of visitors from the major European markets. Hotels and Disney Village sales increased 0.8% over the same period. The increase in revenues from Disney Village and in average spending per room (1% each) offsets the hotel occupancy rate down 2.7 points, or 48,000 fewer room nights compared to the FY 2011/2012.

“Our total revenues for the first nine months period increased, with higher guest spending in both our parks and hotels. However the continued challenging economic context in Europe and adverse weather conditions weighed on Resort volumes in our third quarter. We remain cautious for the coming months given the uncertain European economy.” said Philippe Gas, Chief Executive Officer of Euro Disney S.A.S.

This year, Disneyland Paris has extended the celebration of its 20th anniversary with the introduction of two new scenes in the night show Disney Dreams!, winner last year of a Brass Ring Award at the IAAPA Attractions Expo. The end of the daily performances is scheduled on September 30.

Euro Disney is currently developing a new destination resort 'Villages Nature' with Pierre & Vacances.

Euro Disney S.C.A. remains discreet about the future development of Europe's top tourist destination. Only one project related to the theme parks was made official a few months ago: a big-budget dark ride based on famous Disney/Pixar cartoon 'Ratatouille' whose opening is scheduled in 2014 in a new themed area at Parc Walt Disney Studios (read more). At the same time the company is pursuing the development of 'Villages Nature' resort destination in collaboration with Pierre & Vacances and is conducting a multi-million euro refurbishment plan of its hotels.

“Three years ago, we made the decision to increase our investments in the guest experience and the Resort in general, therefore focusing on guest spending growth. This allowed us to limit the unfavorable impact of the difficult economic environment in our third quarter. The fundamentals of our business continue to provide a solid basis for growing our business in the long term." concluded Philippe Gas.

*: Period from October 1, 2012 to June 30, 2013.

Disneyland Paris - Parc Disneyland - Parc Walt Disney Studios - Walt Disney Parks & Resorts - Villages Nature - Financial Information - - - - -

Written by François Mayné

François Mayné Publishing Director » Contact Us
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