Parks revenues are NOT down; previous post was only about "domestic resort reservations" -- they appear to attribute to reduced room inventory due to room refurbishments and conversions. While they cite reservations down 2%, they cite per room spending up 8%.
Call transcript: "Parks and Resorts revenues for the quarter increased 6% to $5.2 billion and segment operating income increased 15% to $1.3 billion. Operating income growth for the quarter was due to increases across key operations. Results this year included only one week of the Easter holiday period, whereas third-quarter results last year reflected the benefit of both weeks of the holiday period. We estimate this drove an adverse impact to operating income of 47 million dollars or 4 percentage points on the year-over-year growth rate. Despite this headwind, the segment once again delivered very strong results with revenue and operating income setting new Q3 records.
Higher operating income at our domestic parks and resorts was primarily due to increased guest spending, partially offset by higher costs. Per capita spending at our domestic parks was up 5% on higher admissions, food and beverage and merchandise spending. Per room spending at our domestic hotels was up 8%.
Attendance at our domestic parks was up 1% in the quarter and reflects about a 1 percentage point adverse impact from the timing of the Easter holiday. Occupancy at our domestic hotels was down about two percentage points to 86% reflecting reduced room inventory due to room refurbishments and conversions.
So far this quarter, domestic resort reservations are pacing down 2% compared to prior year, while booked rates are pacing up 7%."
