Disney parks to grow volume 2-3 pct, cutting capex
Reuters - 3/29/06
Full Story - Disney parks to grow volume 2-3 pct, cutting capexDisney parks to grow volume 2-3 pct, cutting capex
LOS ANGELES, March 29 (Reuters) - The Walt Disney Co. expects its U.S. theme park volume to rise 2 percent to 3 percent annually even after the end of its 50th anniversary promotion, parks division Chief Financial Officer Jim Hunt told an investor conference on Wednesday.
Disney's theme park arm, which accounts for about a quarter of its operating income, expects to realize savings from using more part-time employees and from standardizing benefits across its 11 parks, Hunt said.
Disney's parks and resorts profit rose 51 percent to $375 million in the first quarter of fiscal 2006 as Hong Kong Disneyland posted its first full quarter of operations and the Disneyland 50th anniversary promotion spurred business at U.S. parks.