Parks and Resorts revenues for the fourth quarter 2018 increased 9%

Nov 09, 2018 in "The Walt Disney Company"

The Walt Disney Company yesterday reported earnings for its fourth quarter, which saw the Parks and Resorts revenues for the quarter increase 9% to $5.1 billion, and segment operating income increase 11% to $829 million.

Attendance in the domestic parks was up 4% and per capita spending was up 9% - on higher admission, merchandise and food and beverage spending, and attendance increases. Resort occupancy was up 1% to 85%.

You can read the full report here, and the Parks and Resorts segment result below

Operating income growth for the quarter was due to an increase at our domestic operations. Domestic results reflected the comparison to the adverse impact of Hurricane Irma, which occurred in the prior-year quarter.

Higher operating income at our domestic operations was primarily due to increased guest spending and attendance, partially offset by increased costs. Guest spending growth was due to increases in average ticket prices for theme park admissions and cruise line sailings, food, beverage and merchandise spending and average daily hotel room rates. The increase in costs was primarily due to labor and other cost inflation, a special fiscal 2018 domestic employee bonus and higher charges for project abandonments.
Operating income at our international parks and resorts was comparable to the prior-year quarter as growth at Disneyland Paris and Hong Kong Disneyland Resort was offset by a decrease at Shanghai Disney Resort. Operating income growth at Disneyland Paris was due to an increase in average ticket prices while growth at Hong Kong Disneyland Resort was due to higher occupied room nights and attendance growth, partially offset by cost inflation. The decrease at Shanghai Disney Resort was due to lower average ticket prices, partially offset by increased attendance.

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Article Posted: Nov 09, 2018 / 12:16pm ET