Euro Disney Revenue Up in Fiscal 1Q
Thursday January 26, 5:40 am ET
Euro Disney Revenue Up 3.7 Percent in Fiscal 1Q Due to Higher Occupancy Rates at Hotels
PARIS (AP) -- French theme park operator Euro Disney SCA said Thursday that revenue rose 3.7 percent in the company's first quarter due to higher occupancy rates and spending at its hotels and Disney Village.
Revenue between October and December came to euro269 million ($331 million), compared with euro259 million a year earlier.
Euro Disney, whose largest shareholder is the Walt Disney Co., was reporting revenue for the first time under International Financial Reporting Standards.
Revenue at Euro Disney's hotels and Disney Village also rose 3.7 percent to euro100 million ($123 million) in the first quarter. The hotels had higher occupancy rates, and average spending per visitor rose, led by restaurant revenues.
Theme park revenue inched up 2 percent to euro140 million ($172 million), as the two parks, located outside of Paris, attracted more visitors.
The unprofitable theme park operator underwent a major debt restructuring last year, and said that it doesn't expect to be profitable for several years. _________________ *~deb~*
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