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[Anthony]

Report available here: http://corporate.disneylandparis.com/CO ... elease.pdf

A summary I posted on DLRP Today: http://www.dlrptoday.com/2012/02/07/res ... 2-results/

The headline stats:

• 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

Resort operating segment revenues 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, primarilydue 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.

Commenting on the results, Philippe Gas, Chief Executive Officer of Euro Disney S.A.S., said: "The improved attendance and guest spending are encouraging, especially in light of the challenging economic environment. Total revenues were up 1% compared to the prior-year period which included several real estate transactions.

In April we look forward to launching our twentieth anniversary celebrations with brand new experiences for our guests, including the Disney Dreams®! night-time show, an innovative light and color spectacular. It will also be an opportunity to celebrate a two-decade journey with our cast members, our guests as well as our key public and private partners who have helped Disneyland Paris become Europe's number one tourist destination."

No mention of Ratatouille, just a repeat of the earlier vague "multi-year expansion" comment.

Thoughts?

[dagobert]

At least the results are positive. Now they need to improve the merchandise, the hotels and the fast food and then people may spend more money in the parks.

I'm not surprised that there is no mention of Ratatouille.

[bensmum]

Not surprised room occupancy was down....the prices are so expensive....if they were a little more reasonable I would be staying there instead of moving off site for my next visit.

[jacko15]

I totally agree, my recent trip with my in-laws ( there were six of us altogether) cost over £2,500 including cheap flight etc
but with evening meals pitching in at between 150 and 200 euros a throw for the six of us for fairly ordinary food,  the cost is starting to become prohibitive. I agree too with the merchandising question. Apparently, unless you are 12 and under, DLP are struggling to find quality merchandise of interest to visitors, fans or collectors. If EuroDisney S>C>A really want to maximise profits then there are a lot of areas that need sorting out.

[peter]

^that's worrying, considering that two weeks at disneyworld is now only double that, including flights.

[dagobert]

That's really worrying. If you take into account that the hotels at WDW are in a much better condition and the service, especially when it comes to restaurants, is also a lot better. Let's not talk about the maintainance of the parks, because this is currently maybe the only point DLRP will win due to the heavy refurbishments. A few weeks ago Kevin Yee posted a video that showed the bad maintenance at WDW and from my point of view, DLRP is doing better.

[ICHAPMAN]

No mention of Ratatouille, just a repeat of the earlier vague "multi-year expansion" comment.

This is the second time that I've seen an 'official' document from the company that includes this vague statement.   Is it just a bad translation or similar but does anyone else find concern with the statement:

"to launch a multi-year expansion of the Walt Disney Studios® Park, which includes a new attraction".

It's the idea that you can have a multi-year expansion of WDS, which - based on the statement - includes A new attraction.  "A" would suggest a SINGLE new attraction, it's not like they say "a number of", or "which will include new attractions".

I'm hoping/would like to believe that any multi-year expansion includes a number of new attractions.

Also - isn't it a sad state of affairs, when even in statements to the finance world the most you can do to promote the coming year is to proudly annouce "Disney Dreams" and (what I take exception to) "Disney's 20th Anniversary Celebration Train".

iain

[Anthony]

Also - isn't it a sad state of affairs, when even in statements to the finance world the most you can do to promote the coming year is to proudly annouce "Disney Dreams" and (what I take exception to) "Disney's 20th Anniversary Celebration Train".

Indeed, I have to wonder who puts these statements together. Euro Disney SCA still haven't acknowledged the construction of World of Disney in any of them, have they? A building due to open in June that is really looking like a rather beautiful centrepiece for the resort.

I'd also like to dream that the "multi-year expansion" is something that is yet to be fully funded and therefore announced, with only the single Ratatouille attraction guaranteed so far, hence the cageyness. But maybe by "multi-year" they just mean it'll be a construction project that spans several financial years. A rare case of business speak making something sound (even) more exciting than it is? I hope not.

[peter]

I get the feeling there may be a themed area on it's way, maybe not with an attraction. Why else would they reroute the tram tour again?

[Anthony]

Why else would they reroute the tram tour again?

Apparently just to allow construction vehicles to access the site easier, since otherwise they'd interrupt the tram tour or the backstage road used for Cast Member shuttle buses, etc.

[jacko15]

Perhaps I sounded a little off hand earlier, but I still think DLRP is THE best place to visit. I would just like to visit more often but prices are restricting that. However from a business point of view, I think we should be glad that they are even considering greater investment given the current economic climate both Europe and worldwide. i suppose I should be grateful I can still visit once a year but I think the recent financial results are pretty good, all things considered.

[andrewuk]

Basically it is good that revenues are increasing even before the start of the big celebration year. I think I remember that they are planning to pay off a big chunk of debt this year too, so a lot hinges on the success of 'Dreams.'  If they are going to keep guests in the park for longer they need to provide more things that are worth spending money on. However, I am certain that management are aware of this. At the moment they seem to be addressing major issues like maintenance, expanding WDS and entertainment, so hopefully they will get around to food and merchandise next.

[Josh]

That's probably one reason for the World of Disney Store. If they want to pay off a lot of the debt this year, then I can see why they chose to build it now and in such a prominent place.

[Patrick89]

But you can build new stores in dozens and it won't help you if the quality of the merchandise sold there is pretty poor. As stated above, the range of adult-souvenirs or merch for fans is pretty poor. Just imagine they would sell copies of the attraction posters - I would have them all

[DLRP Roundup!]

€1.87 Billion in debt outstanding in September 2011 according to: http://corporate.disneylandparis.com/in ... l#contentj

However I never noticed the table before now, but between 2014-2016 theres a pretty big drop in debt repayment expected, apart from one €79 million repayment in 2015 which over three years is €250 million less.