Euro Disney S.C.A. Reports Fiscal Year 2011 Results

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Published on 09/11/11 - Updated on 02/06/22

finance Euro Disney

The Hotel Occupancy rate is at 87.1%

Euro Disney S.C.A., parent company of Euro Disney Associés S.C.A., operator of Disneyland Paris, reported today the results for its consolidated group for the fiscal year 2011 which ended September 30, 2011. "Our Resort revenues increased by 5%, reflecting growth in both guest spending and Resort volumes. In fact, we grew our attendance in most of our key markets, by 600 thousand overall to 15.6 million, even as our summer season was impacted by the weaker European economic environment. This past year we further invested in enhancing the overall guest experience, by introducing longer park operating hours, adding new entertainment and improving the appearance of our guest facing assets. Although these investments increase our costs, they are critical to maintain our long-term attractiveness as Europe's number one tourist destination. We remain confident in our business and look forward to the upcoming year, where notably we will celebrate our 20th anniversary, beginning in April, with both our Cast Members and visitors of all ages. "-* Resort revenues up 5%, reflecting higher guest spending and Resort volumes -* Real Estate revenues down € 37 million due to the significant property sale in the prior year -* Net loss increased to € 64 million, reflecting lower Real Estate margin and increased costs related to enhancing the overall guest experience -* Cash and cash equivalents at € 366 million, after repaying € 123 million of borrowings during the year-* Hotel occupancy rate: 87.1% (2011); 85.4% (2010); 87.3% (2009).-* Average spending per room (in €): 219.74 (2011); 209.78(2010); 201.24 (2009). Hotels and Disney Village revenues increased by 7% to € 513.2 million from € 480.2 million in the prior-year, due to a 5% increase in average spending per room to € 219.74, combined with a 1.7 percentage point increase in hotel occupancy to 87.1%. The increase in average spending per room resulted from higher daily room rates and spending on food and beverage. The increase in hotel occupancy resulted from 35,000 additional room nights sold compared to the prior year due to more guests from France and the United Kingdom, as well as a higher business group activity, partly offset by fewer guests from the Netherlands.Commenting on the results, Philippe Gas, Chief Executive Officer of Euro Disney S.A.S., said:

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Walt Disney Parks & Resorts

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