Market News

Euro Disney third-quarter revenues rise 12 pct

PARIS, July 26 (Reuters) - Theme park operator Euro Disney SCA EDLP.PA said on Thursday its third-quarter revenues rose 12 percent to 322 million euros ($444.7 million), citing stronger hotel revenues as well as a rise in the number of visitors.

Theme park revenues gained 8 percent to 173.7 million euros, boosted by a 9 percent rise in attendance to Disneyland Paris.

Hotels and Disney Village revenues rose 21 percent to 132.7 million euros, lifted by a 17 percent increase in average spending per room as well as a 4.7 percentage point increase in hotel occupancy.

The company’s real estate development segment revenues gained 1.0 million euros, boosted by the closing of a larger residential transaction than closed in the prior-year period, it said.

“Our third quarter and year-to-date revenues are encouraging, and both represent records for Disneyland Resort Paris for their respective periods. Naturally, the higher Resort activity and labor rate inflation have caused costs and expenses to also increase,” Chairman and Chief Executive Karl Holz said in a statement.

The company, which is celebrating 15 years of the park east of the French capital, said revenues for the nine months ended June 30 rose 11 percent, to 834.3 million euros from 754 million euros in the corresponding period a year earlier.