Disney’s Q3 Earnings Report: Domestic Resorts at 90% Occupancy and Park Spending Up
If you’ve been following along with MickeyBlog and you’ll know that today was the Q3 earnings report for the Walt Disney Company. The overarching theme of the report when it came to, Disney Parks, Experience and Products was that demand has not abated when it comes to visiting the theme parks. Revenue at the parks was at $7.4 billion this quarter compared to $4.3 billion during the same quarter last year. If the resorts are seeming a bit busier these days, that’s because of the exciting news that Disney Resorts are currently at 90% occupancy.
This means that only 10% of hotel rooms go un-booked, confirming what we’ve seen which is that availability across resorts can be quite tight.
In addition, we found out during the call that operating income has increased by $1.8 billion to $2.2 billion compared to $0.4 billion last quarter. Disney highlighted that though theme park attendance may not be at pre-pandemic levels, guests are spending more at the parks when they do visit. Guest spending growth was up by 10% which the company attributes to several factors chief among them daily hotel room rates, increase in average per capital ticket revenue as well as the monetized introduction of Gene+ and Lightning Lane.
Disney domestic parks were opened for the entire third quarter unlike the international market which saw Shanghai Disney Resort only opened for a few days that quarter.
You can check out the Q3 Earnings Report here. –Walt Disney Company Q3 Earnings Report
Readers are encouraged to keep following along with MickeyBlog for further Walt Disney World news and updates. We’ll be coming to you LIVE from the theme parks each and every week.
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