Euro Disney revenue up in third quarter

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Euro Disney revenue up in third quarter


Reuters
via The Hollywood Reporter
July 27, 2007

PARIS -- Theme park operator Euro Disney SCA said Thursday that its third-quarter revenue rose 12% to €322 million ($444.7 million), citing stronger hotel revenue as well as a rise in the number of visitors.

Theme park revenue gained 8% to €173.7 million, boosted by a 9% rise in attendance at Disneyland Paris.

Hotels and Disney Village revenue rose 21% to €132.7 million, lifted by a 17% increase in average spending per room as well as a 4.7 percentage point increase in hotel occupancy.

The company's real estate development segment revenue gained €1 million, boosted by the closing of a larger residential transaction than closed in the prior-year period, it said.

"Our third-quarter and year-to-date revenues are encouraging, and both represent records for Disneyland Resort Paris for their respective periods. Naturally, the higher Resort activity and labor rate inflation have caused costs and expenses to also increase," chairman and CEO Karl Holz said in a statement.

The company, which is celebrating 15 years of the park east of the French capital, said revenue for the nine months ended June 30 rose 11%, to €834.3 million from €754 million in the corresponding period a year earlier.

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