Disney benefits from higher guest spending

Increased spending by visitors to Walt Disney theme parks helped the entertainments giant boost summer and full year profits.

Net income for the three months to the end of September rose by 30% to $1.09 billion, with the parks and resorts division contributing operating profits up 33% to $421 million over the same period last year.

Overall profits for Walt Disney Company for the year to September rose by 21% to a record $4.8 billion with theme parks and resorts producing $1.6 billion, up 18% on the previous 12 months based on revenue up by 10% to $11.8 billion.

“Increased guest spending reflected higher average ticket prices, daily hotel room rates and food, beverage and merchandise spending,” the company said.

The increases were partially offset by costs for the new Aulani hotel and vacation club resort in Hawaii and a decrease at Tokyo Disney due to the temporary closure of the resort following the March earthquake in Japan.

Higher operating income at Disney Cruise Line was attributed to increased passenger cruise ship days driven by new ship Disney Dream, partially offset by related operating costs.

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