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Disney’s Parks and Resorts division was the only business segment that delivered fiscal first-quarter income and revenue growth for the Walt Disney Company.
“Our parks and resorts business … continues to successfully leverage our incredible collection of IP (intellectual properties) to create and deliver an exceptional entertainment experience for millions of guests,” Disney CEO Bob Iger said during the company’s earnings call on Tuesday.
He added that Parks and Resorts’ performance “deepens our confidence in the significant investments we’re making to grow the business around the world, including commissioning three new cruise ships to expand our award-winning fleet, adding Toy Story Lands in Shanghai and Orlando, building Star Wars: Galaxy’s Edge in Disneyland and Disney World, and preparing to incorporate more of our popular IP into Disneyland Paris.”
Revenue for the Parks and Resorts division for the quarter ended Dec. 30, 2017, grew 13% to $5.2 billion and segment operating income increased 21% to $1.3 billion.
Per room spending at domestic hotels was up 6% and occupancy was steady at 91%.
Operating income at the domestic parks was up 18% over the prior year, and attendance at the domestic parks was up 6%. The recently opened Pandora — The World of Avatar contributed to record attendance at Disney’s Animal Kingdom and Walt Disney World in Florida. The Guardians of the Galaxy — Mission: Breakout! attraction at Disney’s California Adventure contributed to higher attendance at the Disneyland Resort in California.
Source: travelweekly.com
