Disneyland Paris Posted Record Profits in 2023 Despite Cast Member Strikes
Once upon a time, the park that is today known as Disneyland Paris was a money pit for the Walt Disney Company.
Despite its beautiful design, popularity with tourists, and Disney name, when Euro Disneyland opened in 1992, it was an unmitigated disaster.
The park posted a loss of approximately 300 million francs during its first year of operation and failed to draw the kind of crowds that Disney had expected.
By the summer of 1994, Euro Disney was burdened with $3 billion in debt. Its struggles would not only see the park’s future expansions cut back, but it would also negatively affect how much money Disney had to spend on its domestic parks.
Eventually, however, Disney was able to turn things around. By 1995, Euro Disney posted a profit for the first time. Still, however, profitability in Europe has been tenuous at best.
A Record 2023
With this history in mind, Disney has to be thrilled with Disneyland Paris’s 2023 results.
Despite a wave of strikes that interfered with park operations, Disneyland Paris generated $343.4 million in profits last year.
The resort saw increased attendance thanks to the recent addition of Marvel Avengers Campus and the reimagining of the Disney Hotel New York.
Breaking down the banner year, Disneyland Paris saw revenue rise 23.5% during the fiscal year 2023 to an all-time high of $3.1 billion.
Net profits, meanwhile, rose to $174.4 million from a net loss of $50.9 million during fiscal year 2022. This was, in large part, driven by increased room rates throughout the resort. According to data provided by Disney, room rates have soared at Disneyland Paris since the resort reopened following the COVID-19 pandemic. The Hotel New York, for example, more than doubled its prices.
In total, Disneyland Paris’s hotels generated 21.7% of the resort’s total revenue and 56.6% of its operating profits.
Profits Were Unaffected by the Cast Member Strikes
Last May and June, the ambiance of Disneyland Paris was disrupted by Cast Member strikes, which often disrupted the resort’s entertainment offerings.
Cast Members eventually recieved a 5.5% raise at the end of September.
With a new Frozen land in the pipeline, Disney will look to continue its momentum in Paris and solidify the resort as a reliable money maker.
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