I was hoping for some magic on the "dark side" since we are going in January
Here is the article from the Orlando Sentinel
http://www.orlandosentinel.com/business/tourism/os-disney-attendance-earnings-20160809-story.html
The Walt Disney Co.'s domestic theme-park attendance declined during its third quarter, underlining Orlando's quieter summer so far.
Hotel occupancy has been down throughout the region. Still, Disney noted occupancy at its domestic resorts increased 3 percent in the last quarter.
Because the company's parks are such a draw, "it makes sense to us if people are being more selective or making shorter stays or things like that, that Disney would continue to do maybe better than some of the other competitors," said Robin Diedrich, an analyst with Edward Jones
Disney's theme park revenue increased 6.6 percent to $4.4 billion, as visitors spent more. Operating income rose 8 percent to $994 million.
Disney noted its theme parks had kept costs down through "efficiency initiatives" but did not provide details. Earlier this year, there were some job cuts, and shorter operating times at some Disney World attractions, while some employees reported their hours had been reduced as well.
Disney's explanation that Easter timing was largely to blame for its attendance drop differed from SeaWorld's comments to analysts about its disappointing results. Orlando-based SeaWorld Entertainment last week said a drop in visitors from Brazil and overall softness in Orlando also contributed to its quarterly decline of almost half a million visitors. SeaWorld called its decreased attendance part of a "Florida problem."
Pulse could become the latest tragedy tourism destination
Caitlin Dineen
The Pulse nightclub, the gay venue where 49 people were shot and killed last month, has found its way onto itineraries for tourists from around the world who pay their respects and leave handmade memorials.
Although the club remains closed and cordoned off with a fence, its owner is planning a...
The Pulse nightclub, the gay venue where 49 people were shot and killed last month, has found its way onto itineraries for tourists from around the world who pay their respects and leave handmade memorials.
Although the club remains closed and cordoned off with a fence, its owner is planning a...
(Caitlin Dineen)
"I don't think you can draw any parallel between what Disney just reported and what SeaWorld is going through. I think SeaWorld is just much more exposed to not just international guests but a particular geography — Latin America," said Tuna Amobi, an analyst with S&P Global Market Intelligence.
Universal Orlando's corporate owner stayed mum in its recent earnings report about visitation here. That resort has lifted blockout dates for lower-tiered passholders for almost the entire summer.
In Orlando, analysts have said some reasons for overall softening could include Brazil's recession and the weakness of Canadian currency. A couple of new Orlando attractions were either delayed or had official openings fairly late in the summer. In addition, the region suffered negative publicity when 49 people were shot to death at the Pulse nightclub in Orlando in June. That was quickly followed by a fatal alligator attack at Disney World.
The Zika virus and Great Britain's vote to leave the European Union have raised fears about tourism here. But Iger said so far Disney has seen no effect from either.
"Great Britain has been fairly strong, which, given ... the headlines and the Brexit issue, you'd expect otherwise, and also the pound versus the dollar — but business is quite strong there," he said.
Iger acknowledged that terrorism had put a damper on
Disneyland Paris' results. A hundred and thirty people were killed in a coordinated series of shootings and suicide bombings in that city in November.
Disney World and Disneyland over the past year has revamped its ticket and pass systems to shift visits from peak times to slower ones.
On Monday, Disney World announced up to a 20 percent discount on select hotel rooms during much of November and December. The company told analysts Tuesday that so far its bookings for the current quarter are up 1 percent.
Disney also on Tuesday announced it has acquired a minority stake in BAMTech, a technology company that will become a key partner in delivering a streaming video service from ESPN.
Overall, the company's earnings exceeded Wall Street's expectations. Earnings per share increased 10 percent to $1.59. Adjusted earnings were $1.62 per share.
Revenues increased 9 percent to $14.3 billion.
Iger also gave details about the Shanghai Disney Resort, saying it had a successful opening. Its hotels have been 95 percent full, and visitors are staying two hours longer than Disney had expected them to.
Disney's stock was down 1.8 percent in after-hours trading.
spedicini@orlandosentinel.com or 407-420-5240
