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  1. #1

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    First Quarter 2010: revenues decreased 11%

    Euro Disney press release:

    EURO DISNEY S.C.A.
    Fiscal Year 2010
    First Quarter Announcement

    • Total revenues decreased 11% to € 292 million, driven by lower theme parks attendance and hotel occupancy
    • Increase in average spending per room and flat average spending per guest

    (Marne-la-Vallée, February 9, 2010) Euro Disney S.C.A. (the "Company"), parent company of Euro Disney Associés S.C.A., operator of Disneyland® Paris, reported today the following revenues for its consolidated group (the "Group") for the first quarter of fiscal year 2010 which ended December 31, 2009 (the "First Quarter"):

    Resort operating segment revenues decreased by 10% to € 290.8 million from € 323.0 million in the prior-year period.

    Theme parks revenues decreased by 12% to € 164.7 million from € 186.1 million in the prior-year period, primarily resulting from an 11% decrease in attendance. The decrease in attendance was driven by fewer guests visiting from the United Kingdom and France. Average spending per guest remained on par with the prior-year.

    Hotels and Disney® Village revenues decreased by 10% to € 112.3 million from € 124.6 million in the prior-year period, due to a 9.9 percentage points decrease in hotel occupancy, partly offset by a 3% increase in average spending per room. The reduction in hotel occupancy resulted from 52,000 fewer room nights compared to the prior-year period, primarily due to fewer guests visiting from the United Kingdom and lower business group activity. The increase in average spending per room reflected changes to pricing and promotions strategies.

    Other revenues, which include participant sponsorships, transportation and other travel services sold to guests, increased € 1.5 million to € 13.8 million.

    Commenting on the results, Philippe Gas, Chief Executive Officer of Euro Disney S.A.S., said:

    “Our First Quarter revenues reflect the continuation of the difficult economic environment with a decrease in Resort visitation. In the first quarter 2009, our revenues had not yet been fully impacted by the economic decline, partly because of the way guests book their vacations in advance of visits. This changed and intensified throughout 2009, with our guests now booking closer to their visits while also searching for promotions. However, our pricing and promotion strategies in the First Quarter enabled us to increase hotel per room spending and keep per guest spending in our parks on par with the prior-year.

    We remain committed to delivering a high-quality, unique Disney entertainment experience to drive revenues while managing our costs. In April we will launch the Disney New Generation Festival, a new annual celebration, creating even more reasons to visit. We also continue to invest in the development of our resort and look forward to opening Toy Story Playland with its three new attractions, in summer 2010. We believe the strength of the Disney brand and our commitment to guest service will allow us to grow our business as the economic environment improves.”

    Source: EDL s.c.a. press release
    ----
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    Zarniwoop

  2. #2

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    Re: First Quarter 2010: revenues decreased 11%

    If they think the Next Gen Festival and TSPL are going to help, I think they are sorely mistaken. In fact, I am certain NOT building TSPL is a better business move. I know I am less likely to spend money with Disney these days when several local options are offering a similar or better experience than many of these newer initiatives.
    Let's put the Walt back in Disney!





  3. #3

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    Re: First Quarter 2010: revenues decreased 11%

    Oh dear this what happens when have cheap celebrations. The 15th Celebrations were great! The novety of all these celebrations is wearing off. How bout no celebrations and just advertise Toy Story Play Land. Micechater may not be happy about it but the avwerage joe likes them type of things! I like the idea!

  4. #4

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    Re: First Quarter 2010: revenues decreased 11%

    I agree that cheap fixes simply cheapen the park and make it less of a value. They should be taking this opportunity to enhance the park with exciting Disney quality new attractions and lands in both of the parks. Enough with the cheap Six Flags stuff.
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  5. #5

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    Re: First Quarter 2010: revenues decreased 11%

    Hotels offer a sub par experience for the money,

    Entertainment is now aimed at the pre school set

    Merchandise is poor, poor, poor.

    Buffets are the same rubbish everywhere, with less uniqu dining experiences than years gone by.

    Attraction rosta recently has been a mixed bag

    Prices climbing, quality majorly diminishing

    Add in the staggered opening and closing

    Well, I don't feel like spending much with them. When the non Disney hotels offer better services and facilities; the towns and villages have better dining options at a lower price; and the merchandise on sale is junk that you can buy in the UK (if you so wanted another cheap breakable toy or character plush) for cheaper. Frankly, there is not much to spend my money on.

    As a teen and young 20 something, there was always something I wanted to buy. Now, not so much. And if it weren't for the fact we owned at MArriott, frankly I would be unlikely to go this year. As it is, I am trying to pursuade the family to only go for or a day or 2 so we can do other things. And yet, Disney used to be a religion to me. How sad.

    And I notice each day at St Pancras, less and less Disney bags (Disney Store or from DLP). Maybe if they went for quality, people would spend. Overpriced poor food, merchandise and services do not encourage you to spend.
    Let's put the Walt back in Disney!





  6. #6

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    Re: First Quarter 2010: revenues decreased 11%

    It annoys we that TWDC have ignored DLP which is in desprate need for some cash to help the park out. Just think all that money spent to build HKDL.

  7. #7

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    Re: First Quarter 2010: revenues decreased 11%

    Normally I like to always look on the bright side and leap to the defence, but in this instance I have to agree with all that's been said.

    NGF and Playland are not going to cut it. I know you can say its "better than nothing", but in this instance there surely must be something better they can do.


    "We're not trying to entertain the critics ... I'll take my chances with the public." -
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  8. #8

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    Re: First Quarter 2010: revenues decreased 11%

    One thing is park celebrations should be for special events not Mickey Magical Party. If your actually going to do Mickey party it should have been on the year of his 80th Birthday not his 81st Birthday. Instead of cheaponing Mickey. I bet Walt rolling in his grave! No ungly decorations on the castle. A nice little pre parade for Mickey would have been nice.

    Next Generation Festival cancel it! Why do you need a celebration for that?

    Do some maintance? Train your CM better? Lower prices? Better advertisment? Yes Euro Disney you have to spend some money! Spend money= more $$$!

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