Euro Disney S.C.A. - Fiscal Year 2012 - First Quarter Announcement

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Published on 14/02/12 - Updated on 17/03/22

-* Resort revenues up 4% to € 318.6 million due to higher theme parks attendance and guest spending, partly offset by lower hotel occupancy -* Total revenues increased 1% to € 318.9 million, as higher resort revenues were partially offset by lower real estate revenues

Euro Disney S.C.A., parent company of Euro Disney Associés S.C.A., operator of Disneyland® Paris, reported today revenues for its consolidated group for the first quarter of the fiscal year 2012 which ended December 31, 2011:Resort operating segmentrevenues increased 4% to € 318.6 million from € 305.6 million in the prior-year period. Theme parks revenues increased 7% to € 180.2 million from € 168.9 million in the prior-year period, primarily due to a 5% increase in attendance and a 1% increase in average spending per guest. The increase in attendance resulted from a higher number of guests visiting from France, partly offset by fewer guests visiting from the Netherlands. The increase in average spending per guest was due to higher spending on merchandise and food and beverage. Hotels and Disney Village® revenues increased 1% to € 128.2 million from € 126.8 million in the prior-year period due to a 2% increase in average spending per room, partly offset by a 1.1 percentage point decrease in hotel occupancy. The increase in average spending per room resulted from higher daily room rates, partly offset by lower spending on food and beverage and merchandise. The decrease in hotel occupancy resulted from 6,000 fewer room nights sold, including fewer guests visiting from the Netherlands and the United Kingdom, partly offset by more French guests staying overnight.Real estate development operating segment revenues decreased by € 9.4 million to € 0.3 million, compared to € 9.7 million in the prior-year period. This decrease is due to four transactions closed in the prior-year period while no transaction closed in the First Quarter. During the First Quarter, costs and expenses increased compared to the prior-year period driven by labor rate inflation partially offset by lower costs associated with real estate development activity.

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