Total revenues rise 8% in first quarter 2011, still a way for Euro Disney SCA to climb

Tuesday, 8th February 2011 at 11:46

Toy Story Playland

First Quarter revenues are up 8% in the results published this morning by Euro Disney SCA, the operating group of Disneyland Paris, but show a struggle to recover from the dent taken during the worst days of the economic crisis in 2008 and 2009. Though the 8% rise to €316.8 million in total Theme Park, Disney Village, Hotel and Resort revenues represents a boost in revenues of €24.8 million, it still fails to fully reverse the huge 10.5% drop the resort saw in First Quarter 2010, when revenues in the period fell from €326.4 million in financial year 2009 to €292 million in 2010. Whilst theme park attendance dropped 11% year-on-year in 2010, it has only grown back by a disappointing 1% in today’s results, which the resort claims stems from an increase in visitors from France and Belgium — offset by fewer visitors from the Netherlands and, yet again, the United Kingdom. This comes despite the opening of three expensive new attractions in Toy Story Playland just before the quarter.

Nevertheless, hotel occupancy rose a strong 5.6 percentage points, suggesting that the resort segment of the business has fared better in the harsh weather conditions seen over the three months from 1st October to 31st December 2010, which analysts expected to curb Disneyland Paris from making bigger gains. Philippe Gas, Chief Executive Officer of Euro Disney S.A.S. commented: “Following the improvement we saw at the end of last year, we are encouraged that our First Quarter guest visitation and spending continued to improve over the prior year. Total first quarter revenues were up 8% versus last year, which is particularly significant given the extensive travel disruptions experienced throughout Europe during the holiday season. We look forward to launching the Disney Magical Moments Festival this spring, where we will celebrate the role of Disney magic in creating lasting memories for families and friends at the Resort.”

After announcing a net profit of €2 million in 2008, its first since the opening of Walt Disney Studios Park in 2002, at the height of the boom and after a hugely successful 15th Anniversary campaign, Euro Disney SCA was almost immediately plunged back into debt. It still currently has around €1.8 billion in loans to pay dating back to the construction of the resort, when Disney wildly overestimated guest spending levels and the number of hotel rooms required in the first phase.

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Comments

  • Having been a regular visitor to Disneyland Paris since it first opened as EuroDisney, I want to see it improving and doing well as much as any other DLP fan. I want new visitors to feel the Magic as much as I do when I am there, and I feel sad when I read bad reviews about it.
    However, there are some things that really must be addressed to attract more visitors from the UK in particular, going by what people are saying.
    Smoking around the parks – this has got steadily worse over the last two years, with fewer CM’s walking around stopping people and sending them to the designated areas. This has become a big problem as people are smoking walking around, watching parades and shows, and in ride queue lines. I have seen CM’s walk past people smoking without batting an eyelid – they just do not seem to care any more.
    This is NOT allowed to happen in the American parks, and DLP should be the same. Clearer non smoking signs are needed in the parks, and making the designated smoking areas easier to find and recognise.
    Another regular complaint in UK visitor reviews is the pushing and shoving that goes on to meet Characters. Some adults have literally pushed other kids out of the way to push their own forward. British people are generally used to queueing and waiting patiently, but sadly some other Nationalities are not, and they are spoiling it for others. This situation needs to be addressed as well, with Cast Members enforcing an organised line.
    There are always going to be some niggles and complaints, but these two main problems are becoming well known and putting many UK people off going there.
    Maybe that partly explains the fall in the number of UK visitors.
    I have also seen visitors refusing to get off rides, and lifting children over barriers to avoid ride queues. The CMs try to stop them, but are totally ignored, so they get away with it.
    Nothing will stop me going to the place that I have great affection for, but improvements and spending is not just about building new rides and restaurants – order in the parks must be maintained for everyone’s enjoyment.
    We often used to stop and chat to the wonderful Cast Members who walked around around the park – they were so smart and friendly, but kept order.Now you hardly see any walking around – they are sadly missed.

  • There always seem to be loads of people from the UK there!

  • Not as many as there used to be…..we always used to meet other UK visitors in queue lines, and chat, but nowadays we find ourselves mostly surrounded by Spanish guests, who now seem the majority.
    Obviously a lot of French visitors, but we can be in a queue line for quite a while and not hear anyone speaking English.
    I have noticed this more over the last two years especially.

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