So as it is the 7th of May in France that means financial results time...
"Euro Disney SCA will announce financial results for the first half of fiscal 2012 on Monday, May 7, 2012. The press release will be sent via email upon publication." - from the shareholders email in April.
Anyone know when the first fiscal half of 2012 ends, eg. does it include April 2012? If so we could get a good look at how the 20th has started off...
Also at the end of the month it is the shareholders meeting for anyone who is not aware.
The first fiscal half is Oct 2011 through to the end of march 2012.
I do love receiving these financial results and having a good look through them (even though some of it is too much for me on a Bank Holiday Monday morning) but there doesn't seem anything major to report. I'm eager to find out what impact the 20th anniversary has so am more looking forward to the 6 months ending September results being shared in November (I assume) and keeping my fingers crossed for some positive numbers.
It's exciting to see constant progress and the investment in developing and maintaining the parks. Hopefully these shorter term losses will eventually result in some strong long term results for the resort that we all love.
This link should hopefully work to allow you to view the full document:
//http://corporate.disneylandparis.com/CORP/EN/Neutral/Images/uk-2012-05-07-first-half-results-for-fiscal-year-2012.pdf
I'm not going to copy up the whole thing as I bet most of you have already got it but I will include a couple of summarising excerpts:
EURO DISNEY S.C.A.
Fiscal Year 2012
Reports First Half Results
Six Months Ended March 31, 2012
• Resort revenues increased by 1% to € 551 million primarily due to higher guest spending, partly offset
by lower Resort volumes
• Net loss increased by € 21 million due to labor rate inflation, costs associated with the preparation of
the Resort's 20th Anniversary celebration from April 1st and lower real estate activity
• Investments increased driven by continued spending to improve the guest experience, including the
preparation for the 20th Anniversary and a multi-year expansion of the Walt Disney Studios Park
And another interesting part:
Economic and social impact of Disneyland Paris
A study on the socio-economic impact of Disneyland® Paris was issued on March 14, 2012 by the interministerial
Delegation for the Euro Disney project in France. The study covers the period beginning in 1992, opening year of
the destination, to 2012. The study confirms Disneyland Paris as Europe's number one tourist destination and as
the fifth largest hotel complex site in France. The notable conclusions for the last 20 years are as follows:
• € 7 billion invested by public and private parties in the Eastern Paris region;
• € 50 billion of value added to the French economy has been generated by Disneyland Paris;
• 6.2% of France's tourism income from foreign visitors is generated by visitors primarily coming to
Disneyland Paris;
• an average of 55,000 direct and indirect jobs have been created in France by Disneyland Paris activity;
• 250 million visits to Disneyland Paris over the last 20 years
Sorry for the long post but hope this is informative for people who don't get the shareholder's emails.
A bit of a mixed bag the financial results for the first half, but taking into account the economic slowdown in Europe and all the trouble with the Euro it's hardly surprising. However I'd be worried about the rest of the year if the trend continues, and the slowdown and bad weather keeps people away. Still, a modest 1% increase in resort revenues is better than nothing. Thanks for posting.
Quote from: "ed-uk"A bit of a mixed bag the financial results for the first half, but taking into account the economic slowdown in Europe and all the trouble with the Euro it's hardly surprising. However I'd be worried about the rest of the year if the trend continues, and the slowdown and bad weather keeps people away. Still, a modest 1% increase in resort revenues is better than nothing. Thanks for posting.
A loss of 120million is still annoying but hopefully it was people waiting for the 20th and attendance and spending will pick up for this second half. Do they do quarterly results as well?
Also I cant help but think that Disney should be ramping up advertising this summer in London convincing tourists to take the eurostar over in 2h25 for a couple of days and leave the hustle and bustle of the olympic town. If they're not doing this...they're missing a trick.
These are not short term losses. The resort is haemorrhaging money and needs a financial miracle.
Hotel occupancy is worrying and exhibiting a downward trend.
Spending per guest is up on the back of increased prices.
Despite heavy discounting people are not viewing DLP as a value for money holiday.
The alternative view is that people were holding back for summer. but since this figures include Halloween and Christmas, both of which should be busy periods, I say that M. Gas should be a very worried man
QuoteThe alternative view is that people were holding back for summer. but since this figures include Halloween and Christmas, both of which should be busy periods, I say that M. Gas should be a very worried man
:D Perhaps than we could have a CEO who knows what he's doing and how to run the place correctly. Coming from my own recent bookings made through Disneyland Paris I'm not suprised to see such a flat performance. The hotels are very expensive for what you receive in return from them.
Perhaps all the years of no investment, cutbacks and high prices have finally caught up with them. Its time for everyone to realise this Resort needs to restructure its finances as it simply can't afford to keep the place in profit with its current debt repayments.
Also why do they big up a multi year expension at the Studios. Its the one attraction we're getting right? And why does Euro Disney S.C.A not announce the theme or name for this attraction. Its mention all over the net.
EuroDisney has often needed a financial miracle which usually means investors/WDC putting in more money. DLP has always been price sensetive, and in in an economic slowdown like the one we're experiencing in Europe ( Spain, Italy, Britain and other European countries are in recession, DLP's key markets ) people can be expected to shop around for cheaper deals and stay closer to home. Until the economic picture looks brighter the EuroDisney financial roller coaster ride will continue. The company has obviously invested in better maintenance and refurbishments which is what we all wanted, but sadly this hasn't been enough in it's self to get more people coming.
The results aren't good. Each year it's the same and they always blame the economy. The results were bad as well when the economy was fine.
What does it need to rescue the resort? How many financial restructurings does it need? One day they need to make money. I don't know if that is possible, but maybe Disney and the banks should create a so called bad company that takes over the debts and a new company should run the resort. That's how it was done with General Motors, but I'm not sure if that's possible in France.
Is ED SCA so afraid that guests would postpone their trips if they would announce the new Ratatouille ride? Otherwise I can't explain why they use the term WDSP expansion. That's an exeggeration, since it's only one ride and a restaurant.
Quote from: "ed-uk"EuroDisney has often needed a financial miracle which usually means investors/WDC putting in more money. DLP has always been price sensetive, and in in an economic slowdown like the one we're experiencing in Europe ( Spain, Italy, Britain and other European countries are in recession, DLP's key markets ) people can be expected to shop around for cheaper deals and stay closer to home. Until the economic picture looks brighter the EuroDisney financial roller coaster ride will continue. The company has obviously invested in better maintenance and refurbishments which is what we all wanted, but sadly this hasn't been enough in it's self to get more people coming.
I wonder if TWDC is willing to invest more money into ED SCA. They just got a new credit line and TWDC is currently heavily involved in Asia.
I also think that ED SCA has to realize that Europe has grown over the last years. In my opinion it's wrong to focus only on five key markets, especially when they have huge economic troubles. But it seems they will never change their minds when it comes on advertising the resort.
You think Disney don't know about advertising, and in a recession that's put in doubt the future of the Euro, why wouldn't that effect a company like EuroDisney? The worst piece of advertising I saw for DLP in April was strike action taken by some of their CMs, which resulted in cancelled parades. I wouldn't book a holiday there with that going on. It's wage inflation and refurbishments thats weighed down on these results.
For those wanting Philippe Gas to go, I would like thank him for loosening the purse strings for the refurbishment and getting us DREAMS!. The results aren't great but not to bad for Euro Disney.
I'm interested in what impact the longer hours, 7PM parade and Dreams! have on hotel occupancy.
QuoteThe company has obviously invested in better maintenance and refurbishments which is what we all wanted, but sadly this hasn't been enough in it's self to get more people coming.
In this regard the maintenance and refurbishment's have only been comestic. Davewasbaloo was commenting in the Phantom Manor thread about how the attractions are still in a bad state. And I believe even Tony Baxter himself took a shot directed at the Ambassadors during his presentation on April the 12th.
QuoteWhat does it need to rescue the resort? How many financial restructurings does it need? One day they need to make money. I don't know if that is possible, but maybe Disney and the banks should create a so called bad company that takes over the debts and a new company should run the resort.
Its Europe's most visited tourist destination. Its clearly paying back more debt than it can handle based on its results. Something needs to be done. And financial bailouts is really not the answer anymore. Its been proven these only add short-term growth.
QuoteFor those wanting Philippe Gas to go, I would like thank him for loosening the purse strings for the refurbishment and getting us DREAMS!.
These refurbishments needed to happen. The Jolly Roger was falling apart and had to be rebuilt from scratch. We shouldn't be thanking him for it. And Dreams has come at a cost. What other entertainment is left now?
EuroDisney having to pay back more debt than it can handle has always been the case, and the history of EuroDisney. But I don't agree that some problems on Phantom Manor will stop people coming, as long as the ride is open for them to enjoy. Although I would like it perfect, of course.
Quote from: "ed-uk"EuroDisney having to pay back more debt than it can handle has always been the case, and the history of EuroDisney. But I don't agree that some problems on Phantom Manor will stop people coming, as long as the ride is open for them to enjoy. Although I would like it perfect, of course.
And this is clearly where the problem lies. So how do Euro Disney fix it!
Issues with Phantom Manor won't stop people from visiting I agree. But it will lower the Guests enjoyment. Which will result in lower spending. And possibly no return visit. :(
Do you think the problems could be solved, if TWDC would be allowed to invest directly into ED SCA. Although they have the control over the company, they can't invest directly. The only possibilty is giving credit lines that allows ED SCA to build something.
Quote from: "ed-uk"You think Disney don't know about advertising, and in a recession that's put in doubt the future of the Euro, why wouldn't that effect a company like EuroDisney? The worst piece of advertising I saw for DLP in April was strike action taken by some of their CMs, which resulted in cancelled parades. I wouldn't book a holiday there with that going on. It's wage inflation and refurbishments thats weighed down on these results.
I think you may have misunderstood me here. Of course the company is effected by the economic crisis and that's why I ment they should expand their efforts to bring guests from other countries than from Spain and Italy. Over the last years attendance was always around 15 mio per year. There was no significant raise, but from the financial numbers Disney released, it seems they need nearly 20 mio to get out of the red. All I want to say that I don't think they can generate 5 mio more guests just from their key markets.
QuoteDo you think the problems could be solved, if TWDC would be allowed to invest directly into ED SCA. Although they have the control over the company, they can't invest directly. The only possibilty is giving credit lines that allows ED SCA to build something.
I really don't think investing money into the company is the right decision. It won't address the bigger issue. The company is paying more in debt and loans than it can afford right now. And its causing massive loses. The only way forward is for a deal to be made of some kind where the debt is paid off more slowly allowing the Resort to start making a profit. Which in return could lead to more investments in the parks and hotels.
I still say the worst piece of advertising DLP got this year was when some CMs went on strike in April, which resulted in parades being cancelled. But i know that wouldn't have effected these results. It seems that it's labor rate inflation and the cost of the refurbishments for the 20th that have weighed down on the results. There's a recession in Europe, and I don't think the answers are simple. As has already been said, EuroDisney has to pay back more debts than it can handle, and that has been the case for 20 years. The company can't fix it on their own, they have to get others to help ( TWDC, banks, hedge funds, those groups that own EuroDisney's debt, to agree to help them out) should the worst come to the worst. To avoid that, the company will have to make some cuts in it's plans should the trend continue.
Quote from: "dlpfan1992"For those wanting Philippe Gas to go, I would like thank him for loosening the purse strings for the refurbishment and getting us DREAMS!. The results aren't great but not to bad for Euro Disney.
I agree. I actually like Philippe Gas. He seems more willing to do things differently, because we've seen a lot of improvements in communication with fans, while he's been around. I don't think we can expect to get a new CEO who will just magically put us on the right track.
Quote from: "Malin"Issues with Phantom Manor won't stop people from visiting I agree. But it will lower the Guests enjoyment. Which will result in lower spending. And possibly no return visit. :(
Actually, it shouldn't have any affect at all. They're not noticeable enough for most guests to care. :(
Quote from: "dagobert"Do you think the problems could be solved, if TWDC would be allowed to invest directly into ED SCA. Although they have the control over the company, they can't invest directly.
Really? Why would they have that restriction? :?
Quote from: "ed-uk"I still say the worst piece of advertising DLP got this year was when some CMs went on strike in April, which resulted in parades being cancelled. But i know that wouldn't have effected these results. It seems that it's labor rate inflation and the cost of the refurbishments for the 20th that have weighed down on the results. There's a recession in Europe, and I don't think the answers are simple. As has already been said, EuroDisney has to pay back more debts than it can handle, and that has been the case for 20 years. The company can't fix it on their own, they have to get others to help ( TWDC, banks, hedge funds, those groups that own EuroDisney's debt, to agree to help them out) should the worst come to the worst. To avoid that, the company will have to make some cuts in it's plans should the trend continue.
But they can't afford to make cuts! :?
I don't believe M. Gas should go, the business needs continuity. It has already lost its CFO and cannot afford to lose more execs.
What the business really needs is a clarity of position from TWDC. A period of consolidation and consistent pricing.
What does that mean?
1) lower the prices to make the resort affordable and hence bookable. If they can afford consistent 40% discounts they can afford to lower the real price by 20%
2) improve and maintain the guest experience. Disney quality not quantity.
3) maintainence
4) quality merchandise. People will pay premium prices for quality merchandise but will resent it if it barely lasts the journey home.
The funding of EURODISNEY SCA is so complicated.
In order to protect TWDC it is better for someone else to have the risk. That is the job of EDSCA.
it is the fall guy.
QuoteI agree. I actually like Philippe Gas. He seems more willing to do things differently, because we've seen a lot of improvements in communication with fans, while he's been around. I don't think we can expect to get a new CEO who will just magically put us on the right track.
The round table discussions he's had with webmasters from fan sites is to simply get them on to his side. So they can go back home and write favourable things about Disneyland Paris. While the standard across the parks and hotels continue to see decline. He's held the position of CEO for the last four years and in that time we have seen a further decline in ride maintenance. Shows like Lion King cut from the budget and opening hours cut even further back. Not to mention several embarrasing incidents for the company like the strikes, press handling of suicides and accidents with Big Thunder Mountain. Things were never this bad under any of his predecessors. The sad thing is before he was given the job, Andre Lacroix and Karl Holz had mananged to turn the business round.
QuoteActually, it shouldn't have any affect at all. They're not noticeable enough for most guests to care.
I think a lot of this stuff is noticeable for people to pick up on. And I do think people care. Its the attitude of not thinking Guests care that allows Management to slash budgets further and allow key animatronic figures and show scenes to stay broken weeks at a time.
Quote from: "ford prefect"1) lower the prices to make the resort affordable and hence bookable. If they can afford consistent 40% discounts they can afford to lower the real price by 20%
2) improve and maintain the guest experience. Disney quality not quantity.
3) maintainence
4) quality merchandise. People will pay premium prices for quality merchandise but will resent it if it barely lasts the journey home.
I agree with these points in a big way. The perception (and reality, perhaps) is that DLRP does not offer great value - 3 nights in a hotel there for circa £800 (my 3 night trip in Sept inc. Eurostar is costing £1000), when it's possible to get two weeks in WDW (inc. flights) for around £2000. I know that the two are totally different destinations and not everyone wants to fly for hours and has two weeks going spare, however, I still resent paying disproportionate prices for a much smaller trip (obviously I don't resent it that much because I still go to DLRP but you know what I mean...) I know WDW must have a lot more rooms to fill than DLRP but there are still rooms at DLRP sitting empty because they are simply out of the price range of some people. Then again I don't have enough of a business brain to fathom if the higher attendance and subsequent guest spending would offset the loss of income from reduced room rates. But as ford prefect says above -Disney quality, not quantity.
Most people are happy to pay for quality - unfortunately as mentioned, some of the merchandise leaves a lot to be desired, as does some of the food. I know when visiting you're a captive audience and sort of have to make do with what's on offer but it's ridiculous sometimes. In terms of merchandise, I hope WoDS brings a retail revolution. Everyone loves picking up souvenirs but I am sick to death of seeing essentially the same stuff in every single shop!
My final point (and then I'll be quiet, promise) and I've mentioned it before, is the ABYSMAL official website. It makes me so disappointed and angry that a huge company like EDSCA, with all their Disney Magic up their sleeve, can't come up with a remotely appealing website. I know it's not the be-all and end-all, nor is it likely to vastly reverse the ailing bank balance of the resort, nevertheless it is simply
mind-boggling that in this day and age, a company that needs to positively promote itself and encourage customer interest and bookings continues to have one of the most awful websites I've ever seen. They have GOT to hire someone for a complete revamp. It looks ten years out of date, at least.
Possibly veering a little off topic but it still links in with the overall success of the resort, so I'm gonna go with it.
Quote from: "jj554"My final point (and then I'll be quiet, promise) and I've mentioned it before, is the ABYSMAL official website. It makes me so disappointed and angry that a huge company like EDSCA, with all their Disney Magic up their sleeve, can't come up with a remotely appealing website. I know it's not the be-all and end-all, nor is it likely to vastly reverse the ailing bank balance of the resort, nevertheless it is simply mind-boggling that in this day an age, a company that needs to positively promote itself and encourage customer interest and bookings continues to have one of the most awful websites I've ever seen. They have GOT to hire someone for a complete revamp. It looks ten years out of date, at least.
Indeed, it's awful and I suspect genuinely does lose them business. Funnily enough I went to http://corporate.disneylandparis.com (http://corporate.disneylandparis.com"%20onclick="window.open(this.href);return%20false;) on my iPhone when I woke up this morning to check the results, to be greeted by a blank white page! Lucky we're not in 1994 or I might have presumed they'd been closed down. ;)
About the results, I should save my typing for the blog, but I will say I think some people are doom-mongering just a little too much. What did you expect from the second quarter? Attendance shooting up as everyone rushed to the parks, eager to get there three months before the 20th, during one of the coldest winters?
Yes they flatlined, but let's see what the next two quarters bring. On 1st April the whole resort effectively relaunched and re-opened. A day in the "main park" has become completely different. I can't see the rest of this year flatlining, oh no... (although they still
desperately need to actually
advertise Dreams, and not just by saying "hey, we've got a new show", which could mean anything, but actually get across to the public how awesome it is)
Quote from: "Anthony"Quote from: "jj554"My final point (and then I'll be quiet, promise) and I've mentioned it before, is the ABYSMAL official website. It makes me so disappointed and angry that a huge company like EDSCA, with all their Disney Magic up their sleeve, can't come up with a remotely appealing website. I know it's not the be-all and end-all, nor is it likely to vastly reverse the ailing bank balance of the resort, nevertheless it is simply mind-boggling that in this day an age, a company that needs to positively promote itself and encourage customer interest and bookings continues to have one of the most awful websites I've ever seen. They have GOT to hire someone for a complete revamp. It looks ten years out of date, at least.
Indeed, it's awful and I suspect genuinely does lose them business. Funnily enough I went to http://corporate.disneylandparis.com (http://corporate.disneylandparis.com"%20onclick="window.open(this.href);return%20false;) on my iPhone when I woke up this morning to check the results, to be greeted by a blank white page! Lucky we're not in 1994 or I might have presumed they'd been closed down. ;)
About the results, I should save my typing for the blog, but I will say I think some people are doom-mongering just a little too much. What did you expect from the second quarter? Attendance shooting up as everyone rushed to the parks, eager to get there three months before the 20th, during one of the coldest winters?
Yes they flatlined, but let's see what the next two quarters bring. On 1st April the whole resort effectively relaunched and re-opened. A day in the "main park" has become completely different. I can't see the rest of this year flatlining, oh no... (although they still desperately need to actually advertise Dreams, and not just by saying "hey, we've got a new show", which could mean anything, but actually get across to the public how awesome it is)
If this was final quarter results I could see your point. However this was a six month results. It therefore includes Halloween and Christmas which, regardless of the weather, should still be very busy.
I am usually able to put a positive outlook on most DLP news, however I do think that this result is disappointing.
That said, I am very positive about the future and look forward to seeing the next six monthly results.
QuoteAbout the results, I should save my typing for the blog, but I will say I think some people are doom-mongering just a little too much. What did you expect from the second quarter?
Maybe for losses not to have jumped up 22% compared with last year's results.
Quote from: "Malin"QuoteAbout the results, I should save my typing for the blog, but I will say I think some people are doom-mongering just a little too much. What did you expect from the second quarter?
Maybe for losses not to have jumped up 22% compared with last year's results.
Really, even given the big reinvestments and expected visitor lull ahead of the 20th?
Quote from: "ford prefect"If this was final quarter results I could see your point. However this was a six month results. It therefore includes Halloween and Christmas which, regardless of the weather, should still be very busy.
I am usually able to put a positive outlook on most DLP news, however I do think that this result is disappointing.
But looking at the first quarter results (//http://www.dlrptoday.com/2012/02/07/resort-revenues-up-4-attendance-up-5-not-a-rat-to-be-found-in-first-quarter-2012-results/) which have already covered that period (and weren't great either), it was definitely the second quarter which dragged things below the line here. 1% overall revenue growth in first quarter, 0.9% overall revenues decline for the whole first half.
They still don't seem to know what to do with the January-March period, after Christmas and before whatever new season begins, selling it as this "Three Irresistible Months" bargain period. Should they just try bringing the season launches ahead so that they begin earlier than April? If Disney Dreams had launched in early March, that'd be an extra month for people to see how good it is and book their trip for the summer, for example...
It is worrying, even with higher spending per room, to see hotel occupancy slipping down to 79.8%. They really need to expedite the whole hotel renovation programme. They can't be taking two years per hotel. And they need to seriously look either at prices or at how they can add value to a stay at the hotels.
When you look at the debt they actually reduced their debt by nearly €53,000,000 ( 53 million ) , They are busy trying to pay off the debt. Posting a loss actually makes sense in terms of tax etc. They should be able to reduce the debt by about 5% this year if they continue that way which is what I thought they had to do.
I hope they do drop the prices some day, but they've probably considered it at some point. But it's a big risk. Maybe they don't want to chance it.
Quote from: "jj554"They have GOT to hire someone for a complete revamp. It looks ten years out of date, at least.
They already have great Web developers. If you look at the DLP Generations website, it's clear that they've got great cast members that know how to make a good website that uses modern technologies. I'm just hoping they're working on a new one and that it's just not ready yet.
Quote from: "smurfy74"When you look at the debt they actually reduced their debt by nearly €53,000,000 ( 53 million ) , They are busy trying to pay off the debt. Posting a loss actually makes sense in terms of tax etc. They should be able to reduce the debt by about 5% this year if they continue that way which is what I thought they had to do.
Good point. They have also been spending a lot more in this period:
QuoteCash flow used in investing activities for the First Half totaled € 83.8 million compared to € 37.6 million
used in the prior-year period. This increase reflected investments related to a multi-year expansion of the Walt
Disney Studios ® Park, which includes a new attraction, and investments to enhance the overall guest
experience for Disneyland ® Paris' 20th Anniversary celebration.
So are they paying for Ratatouille in instalments?
Indeed some of the free cash flow went on the debt
QuoteCash flow used in financing activities totaled € 64.2 million for the First Half compared to € 45.4 million used in
the prior-year period. This increase mainly reflected the scheduled repayment of bank borrowings made by the
Group during the First Half.
I suspect that these reports will look a little better in a few years when the debt repayments are not as colossal as they are in this year.
Meanwhile the share price is below £4 today, so a good day to invest in the future of DLP, may be another 20 year bet but itll be worth it.
They've spent a lot on refurbishments and debt, and so they must have pretty much expected this. But that dropping hotel occupancy has got to be the biggest worry.
Quote from: "andrewuk"They've spent a lot on refurbishments and debt, and so they must have pretty much expected this. But that dropping hotel occupancy has got to be the biggest worry.
Bear in mind that the Hotel Occupancy will be low for the first quarter for one obvious reason, people were waiting for the 20th Anniversary starting before they went. As Phillipe Gas stated he does not look at these first set of figures with great concern as it's really the next two that count when the 20th Anniversary is in full swing and peak season is in force.
If DLP is the nº1 destination in Europe, and it receives millions of visitors per year, it's completely impossible for them to be losing money. This could be a clear case of corruption! What if there there is someone from inside Euro Disney taking the money into his pockets??!!
Quote from: "Aladar"If DLP is the nº1 destination in Europe, and it receives millions of visitors per year, it's completely impossible for them to be losing money. This could be a clear case of corruption! What if there there is someone from inside Euro Disney taking the money into his pockets??!!
They're incredibly clear on their financial standing, its the debt thats killing them.
Quote from: "Aladar"If DLP is the nº1 destination in Europe, and it receives millions of visitors per year, it's completely impossible for them to be losing money. This could be a clear case of corruption! What if there there is someone from inside Euro Disney taking the money into his pockets??!!
At this rate, they must have big pockets. ;)
If they didn't have the debt, how much profit would they be earning each year?
Josh, that's exactly what I'd like to know. If Disneyland Paris didn't have all this debt, surely they'd be making so much money per year that we'd be getting major new attractions every 2-3 years!
QuoteReally, even given the big reinvestments and expected visitor lull ahead of the 20th?
Ok if the company kept up with the refurbishment's around the park in the first place it would had not needed to have spent this amount of money. Second having seen this big reinvestment in person. Why are the attractions and several of the inside buildings still looking like crap. This big reinvestment is purely for comestic reasons. Also I don't see a big difference in the number of Cast Members around the Resort. And the entertainment and the amount of Characters used has fallen since my last trip. And you will find that while the attendance figures will go up because of Dreams and the heavy marketing. Guest spending is unlikely to jump to the numbers expected if the situation I witnessed last week is any indication with the food service. And don't even get me started on the poor selection of merchandise available.
Dont know if anyone has seen the webcast at http://www.media-server.com/m/p/mh5b3cma/lan/en (http://www.media-server.com/m/p/mh5b3cma/lan/en%22%20onclick=%22window.open(this.href);return%20false;)
April Revenues in 2012 were up 3% [doesnt seem too impressive to be honest]
Hotel bookings up 66% for last week of April/First week of May compared to last year [now thats good]
5% increase in bookings for future
spending per guest has accelerated for the beginning of the 20th anniversary (q in q&a)
Quote from: "gldc"Dont know if anyone has seen the webcast at http://www.media-server.com/m/p/mh5b3cma/lan/en (http://www.media-server.com/m/p/mh5b3cma/lan/en%22%20onclick=%22window.open(this.href);return%20false;)
April Revenues in 2012 were up 3% [doesnt seem too impressive to be honest]
Hotel bookings up 66% for last week of April/First week of May compared to last year [now thats good]
5% increase in bookings for future
spending per guest has accelerated for the beginning of the 20th anniversary (q in q&a)
This proves that having a nighttime spectacular and later hours really does improve hotel occupancy. =D>
How do these dates fair with Easter and School holidays from last year?
Easter Holidays gave the UK a negative trading swing, not sure about the rest of Europe.
Quote from: "Trekkie101"Easter Holidays gave the UK a negative trading swing, not sure about the rest of Europe.
They said the weather was particular disfavourable in April when meant that results for april could have been even better.
On this thread //http://forums.wdwmagic.com/showthread.php?p=4965069&posted=1#post4965069 on WDWMagic forum user "Pheneix" (that seems a well regarded source for inside infos) says:
Quote from: "pheneix"Oh, and just for the sake of sharing some new information for information's sake, Disneyland Resort Paris has much deeper financial problems than what are widely believed, and they are going to be talked about in detail later in the year.
and
Quote from: "pheneix"It's the banks who are holding that 2 billion in debt that are going to be causing high level drama later this year. The resort is failing miserably at meeting its drastically revised commitments that were made a few years ago.
It doesn't sound good... at all O_o'
Q
Quote from: "|Q|"On this thread //http://forums.wdwmagic.com/showthread.php?p=4965069&posted=1#post4965069 on WDWMagic forum user "Pheneix" (that seems a well regarded source for inside infos) says:
Quote from: "pheneix"Oh, and just for the sake of sharing some new information for information's sake, Disneyland Resort Paris has much deeper financial problems than what are widely believed, and they are going to be talked about in detail later in the year.
and
Quote from: "pheneix"It's the banks who are holding that 2 billion in debt that are going to be causing high level drama later this year. The resort is failing miserably at meeting its drastically revised commitments that were made a few years ago.
It doesn't sound good... at all O_o'
Q
I lurk on that forum a lot, they like to make everything doom and gloom. Financial results don't look pretty but they are pretty public, the "problem" was never hidden.