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