Disneyland Paris released its financial result statement for Q1 of 2014 (the three months until 31st December 2013) just a few days ago on 4th February 2014. The financial results are perhaps not a surprise for those who have been following the resort for many years - once again the resort made a loss.
- Overall resort revenues decreased by 5%, which has been attributed to "lower theme parks attendance and hotel occupancy" due to the economic situation in Europe. Revenues decreased from €320.7m to €304.9m
- In more positive news, overall guest spending increased by 4% in the theme parks and 6% in hotels. The increase in average spending per guest was due to higher spending on admissions and merchandise.
- There was a 7% decrease in visitors to the theme parks. The decrease in attendance was mainly due to fewer guests visiting from France, Spain and the Netherlands.
- Hotels and Disney Village revenues decreased 6% from €129.8 million last year to to €122.4 million due to a 9.6% decrease in hotel occupancy and lower Disney Village activity. The decrease in hotel occupancy resulted from 51,000 fewer room nights sold compared to the prior-year period, primarily due to fewer guests visiting from France, Spain and the Netherlands, as well as lower business group activity.
- Other revenues decreased by €2.3 million from €11.9 million last year to €9.6 million in this quarter, mainly due to lower sponsorship revenues.
Commenting on the results, Philippe Gas, Chief Executive Officer of Euro Disney S.A.S., said:
"In a still challenging economic environment, we realized lower attendance and occupancy as compared to last year, which resulted in a 5% decrease in resort revenues. However our strategy aimed at increasing guest contribution helped us offset some of the attendance and occupancy weakness as we achieved record guest spending in both our parks and hotels for a first quarter.
Even though we remain prudent given the current economic environment, we believe the fundamentals of our business are strong and we are confident in our long-term strategy focused on investing in the guest experience. The opening of our new Ratatouille-themed attraction this summer fully reflects this growth strategy."