Disneyland reports lower attendance but higher revenue in latest quarter

Higher visitor spending propelled growth at the Disneyland resort, which was offset by lower attendance as well as expenses associated with the launch of Star Wars: Galaxy’s Edge on May 31.

Revenue from Disney’s Parks, Experiences and Products division increased 8 percent for the quarter to $6.7 billion, according to the Disney’s fourth quarter earnings report, which was revealed today, Nov. 7.

The spike in visitor spending was due to higher prices for tickets, food and merchandise.

Booking rates at domestic hotels are up 5 percent compared to the prior year, according to Disney Chief Financial Officer Christine McCarthy.

“We still feel very good about the demand for our domestic park product,” McCarthy said on the call.

Visitor spending increased at the Walt Disney World resort during the quarter, despite the adverse impact of Hurricane Dorian.

“Attendance at our domestic parks was comparable to the fourth quarter last year and reflects the impact of Hurricane Dorian, which we estimate adversely impacted attendance growth by about one percentage point,” McCarthy said on the call.

Disneyland and Disney World visitors are deferring visits to the California and Florida parks until the Star Wars: Galaxy’s Edge themed lands are fully open, officials said.

“We believe there was some delayed visitation to Galaxy’s Edge both at Disneyland and Disney World — people waiting for the second E-ticket attraction to open,” Disney CEO Bob Iger said on the call. “We sense that there are people just waiting for the whole thing to be open.”

The new Rise of the Resistance attraction will debut Dec. 5 at Disney’s Hollywood Studios in Florida and Jan. 17 at Disneyland.

The Galaxy’s Edge themed lands have driven increases in per-capita spending, food and beverage sales and merchandise sales, according to Iger.

“Those two land have been far more successful than been reported,” Iger said.

Five million riders have climbed aboard the Millennium Falcon: Smugglers Run attractions in the Star Wars: Galaxy’s Edge themed lands at Disneyland and Disney’s Hollywood Studios in Florida, according to Iger.

The Smugglers Run flight simulators have been extremely reliable, according to Iger.

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Source:: The Mercury News – Lifestyle


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