Does not surprise me since Disney just declared record profits for the
Quarter and significant increases from its WDW park.
Here is what was quoted:
Disney on Wednesday reported sales of $9.05 billion for the second quarter, which ended June 30, up 7 percent from $8.47 billion in the second quarter of 2006.
Quarterly profit from continuing operations rose 9 percent to $1.19 billion.
Parks and resorts revenues for the quarter increased 6 percent to $2.90 billion and operating income increased 13 percent to $621 million.
Higher operating income reflected increases at Walt Disney World and
Disneyland Resort.
Higher operating income at Walt Disney World came from increased guest spending and higher attendance, partially offset by higher operating costs. Guest spending increases resulted from higher average room rates and merchandise sales. Guest attendance increased by 4%.
"We're pleased the theme parks are at the 20 percent margin number, and we prefer not to stop there," Iger said.
Tom Staggs, senior executive vice president and chief financial officer, said occupancy at Walt Disney World area hotels was 93 percent and spending at the parks was up 5 percent.
Thanks Iger.