The past few weeks haven’t been good for Disney parks. The spread of the coronavirus has shut down Shanghai Disney Resort and Hong Kong Disneyland, and even Tokyo Disneyland started to implement some restrictions.
But, there is finally some good news. Disney Parks in the U.S. saw a rise in attendance and revenue in the first quarter.
According to Spectrum News and as revealed in The Walt Disney Company’s quarterly earnings call,
Revenue for the company’s Parks, Experiences and Products division increased 8 percent to $7.4 billion in the three months ending in December. Segment operating income also increased 9 percent to $2.3 billion.
Disney’s domestic parks, which include Disney World and Disneyland, had a 2 percent increase in attendance, executives said during an earnings call with investors.
Hotel spending also saw a 4% increase with a 92% occupancy rate.
Credit for the increase in revenue goes to “higher ticket prices and an increase in food, beverage and merchandise spending.” But, fingers have to be pointing to new attractions and lands such as Star Wars: Galaxy’s Edge and the unprecedented ride experience, Star Wars: The Rise of the Resistance.
While most Disniacs may not like the fact Disney has an incentive to keep the ticket prices high, Disney hopes guests keep in mind what the extra cost is going towards: “new guest offerings, driven by Star Wars: Galaxy’s Edge, and…wage increases for union employees.”
Going forward, Disney Parks shows hope that attendance will continue to climb. Upcoming rides include Mickey and Minnie’s Runaway Railway, Remy’s Ratatouille Adventure, and Guardians of the Galaxy: Cosmic Rewind. Epcot at Walt Disney World is also undergoing a major overhaul and the Marvel-themed Avengers Campus is getting set to open in Disney California Adventure park at the Disneyland Resort in California.
2020 looks to be a big year for Disney parks, and we can only hope that the coronavirus is cured soon, the people are saved, and the parks get back online. “Our hearts go out to all those affected by this devastating outbreak,” said Disney CEO Bob Iger, “including the thousands of people who worked for us in the region.”
What do you think of these results? Have you been able to get to Walt Disney World or Disneyland lately? Let us know in the comments!
Source: Spectrum News