NewsParcs is an online trade publication dedicated to theme park industry professionals worldwide.
Since 1998, we work in direct contact with manufacturers, suppliers, consultants, owners and operators to publish only reliable and relevant information.
NewsParcs will do a full coverage of the IAAPA Attractions Expo 2013 in Orlando to have a look at the latest trends and developments of the global theme park industry.
Follow us on Twitter (@NewsParcs) from November 19 to 22 with the hashtag #IAAPA
Euro Disney S.C.A. (the "Company"), parent company of Euro Disney Associés S.C.A, operator of Disneyland Paris, reported today the revenues for its consolidated group (the "Group"), for the third quarter of fiscal year 2011 (the "Third Quarter"), as well as the revenues for the nine months ended June 30, 2011.
Main information:
- Third quarter Resort revenues increased 7% to € 344 million, reflecting higher guest spending and volume in both parks and hotels.
- Nine-month year-to-date revenues up 1% to € 903 million, reflecting a 6% increase in Resort
revenues, partially offset by a € 41 million decrease in Real Estate revenues due to the sale of a
significant property in the prior-year period.
Revenues by operating segment for the third quarter (april-june 2011)
Resort operating segment revenues increased 7% to € 344.0 million from € 322.4 million in the prior-year quarter.
Theme parks revenues increased 9% to € 197.2 million from € 181.2 million in the prior-year quarter, due to a 5% increase in attendance and a 4% increase in average spending per guest. The increase in attendance was driven by more guests visiting from the United Kingdom and Italy, partly offset by fewer guests visiting from France. The increase in average spending per guest was due to higher spending on admissions and food and beverage.
Hotels and Disney Village revenues increased 7% to € 137.7 million from € 129.1 million in the prior-year quarter, due to a 5% increase in average spending per room, combined with a 1.3 percentage point increase in hotel occupancy. The increase in average spending per room was due to higher daily room rates. The increase in hotel occupancy resulted from 7,000 more room nights sold compared to the prior-year quarter, including more guests visiting from the United Kingdom and higher group activity, partly offset by fewer French guests staying overnight.
Other revenues, which primarily include participant sponsorships, transportation and other travel services sold to guests, decreased by € 3.0 million to € 9.1 million compared to € 12.1 million in the prior-year quarter. This decrease was due to lower sponsorship revenues.
Real estate development operating segment revenues decreased by € 50.3 million to € 0.3 million, compared to € 50.6 million in the prior-year quarter. This decrease was primarily due to the prior-year € 47 million sale of the property on which the Val d'Europe mall is located.
In the Third Quarter, costs and expenses remained stable compared to the prior-year period primarily as higher volume related costs, repairs and maintenance expenses and labor rate inflation were offset by reduced costs associated with lower real estate development activity.
Revenues by operating segment for the nine months ended June 30, 2011
Resort operating segment revenues increased 6% to € 891.8 million from € 839.9 million in the prior-year period.
Theme parks revenues increased 6% to € 497.6 million from € 468.5 million in the prior-year period, due to a 5% increase in attendance and a 1% increase in average spending per guest. The increase in attendance was primarily due to more guests visiting from France, the United Kingdom and Belgium.
Hotels and Disney Village revenues increased 9% to € 366.0 million from € 334.3 million in the prior-year period, due to a 5% increase in average spending per room, combined with a 2.9 percentage point increase in hotel occupancy. The increase in average spending per room was due to higher daily room rates and spending on food and beverage. The increase in hotel occupancy resulted from 46,000 more room nights sold compared to the prioryear period, due to more guests from the United Kingdom and France staying overnight, and higher group activity.
Other revenues decreased by € 8.9 million to € 28.2 million compared to € 37.1 million in the prior-year period. This decrease was mainly due to lower sponsorship revenues and a legal settlement gain in the prior-year period.
Real estate development operating segment revenues decreased by € 40.8 million to € 11.7 million, compared to € 52.5 million in the prior-year period. This decrease was due to the prior-year € 47 million sale of the property on which the Val d'Europe mall is located, partly offset by a greater number of transactions closed in the nine months ended June 30, 2011.
Commenting on the results, Philippe Gas, Chief Executive Officer of Euro Disney S.A.S, said:
"Our third quarter Resort revenues ended up 7% to the prior year, driven by increases in attendance, occupancy and guest spending. The growth in our Resort business for the nine months has been sufficient to compensate for the significant property sale we had in the third quarter of last year, resulting in Group revenues up 1% to last year. In April we launched the Disney Magical Moments Festival and are thrilled to reintroduce the popular Tarzan Encounter stage show this summer. As part of this celebration, our Cast Members continue to deliver great guest service, creating those special magical moments for all our visitors."
These past three years have been intense for NewsParcs. Our magazine, which has been dedicated to the global theme parks industry since 1998, underwent major changes to become one of the most appreciated magazines among many...
CORPORATE | NewsParcs - Published on January 28, 2014
Our Theme Park Supplier's News of the Week is a round-up of the latest news relative to companies supplying the theme park industry around the world. This weekly report covers topics such as corporate announcements, financial ...
The NewsParcs' Theme Park Supplier's News of the Week is a round-up of the latest news relative to companies supplying the theme park industry around the world. This weekly report covers topics such as corporate announcements, ...
Our Industry Roundup is a summary of the latest major news related to the theme park industry worldwide. We report news specifically on operators, owners, trade associations and related organizations, including trends, attendance...