Disney stated that results at the domestic parks and resorts were slightly unfavorable to the prior year quarter, as a decrease at Walt Disney World Resort was primarily offset by growth at Disneyland Resort.
They also noted that the decrease at WDW was due to higher costs and partially offset by increased volumes. The higher price reflected cost inflation, increased expenses associated with new guest offerings, and higher depreciation.
Another factor that was mentioned is guests spending. They said that higher guest spending was due to increases in average ticket prices and average daily hotel room rates. The increase in costs was primarily due to higher operations support.
Bob Iger noted that the parks are improving the guest’s experience with pricing changes and new experiences. He also mentioned that the Disney structure is working and that they are on target to meet or exceed their cost-cutting targets.
The international parks are doing well. Bob said he sees the parks as a growth driver for the company. He then listed all the lands and expansions that would soon open in the international parks. He then moved on to the domestic parks and mentioned the most recent news regarding theme park reservations. Iger noted they are closely monitoring where investing in the parks business makes sense.
Here’s a look at the park’s results that they shared.
