Disney’s domestic theme parks recorded “phenomenal results” in its fiscal fourth quarter, CEO Bob Chapek said Tuesday during the company’s earnings call.
Disney Parks, Experiences and Products recorded revenue of $7.4 billion, up 36% compared to the same period last year, and operating income increased more than 100% to $1.5 billion, compared to $640 million in the same quarter last year.
CFO Christine McCarthy called it “another stellar quarter” for the segment.
Per capita spending was up 6% from last year and up nearly 40% from 2019. She pointed to optional paid services Genie Plus and Lightning Lane as the main reason why.
Also, international visitors returned to the Walt Disney World Resort in Orlando, McCarthy said, noting their numbers were “roughly in line” with pre-pandemic totals.
Demand for the parks is strong among guests, according to Chapek, who said demand “on many days exceeds our current capacity.”
Looking toward the next fiscal year, McCarthy said, Disney is seeing “robust demand” and expects a strong holiday season.
Disney Cruise Line was also a meaningful contributor to Disney’s results in the fourth quarter, the CFO said. Its latest ship to launch, the Disney Wish, has been a success, and the rest of the fleet is enjoying “continued recovery.” The Wish’s occupancy regularly exceeds 90%, McCarthy said.
Chapek said he is excited for the kickoff of the company’s 100th anniversary celebration, which will begin on Jan. 27 at the Disneyland Resort in Anaheim, Calif. There, two new nighttime spectaculars, and the new attraction Mickey and Minnie’s Runaway Railway, will debut.
“This is only one part of what will be the largest cross-country celebration in Disney’s history,” Chapek said.
Internationally, Disneyland Paris is enjoying a “great resurgence,” he said. The July opening of the Marvel Avengers Campus has been popular with guests.
While Shanghai Disney is currently closed due to Covid-19, Chapek said that resort and Hong Kong Disneyland were both enjoying positive momentum before the closure.
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