How Disney parks are bucking a travel slowdown
📰 source: cnbc_topnews · 💼 business
disney parks are defying a slump in travel to the us, posting record quarterly revenue for its experiences division. the segment brought in nearly $10 billion in the fiscal third quarter, up 10% from a year ago and a record for six straight quarters. operating income topped $3 billion, a 20% gain, and shares rose 2% wednesday.
ceo josh d'amaro said disney is performing 'significantly better than our competition,' while rival comcast reported lags in theme park attendance, especially in orlando. international travel to the us fell 6% last year, per the world travel & tourism council, but disney's domestic park attendance was up 3% and guest spending rose 4%. cfo hugh johnston pointed to 'very strong attendance' at walt disney world, crediting promotions like cool kids summer and refreshed attractions.
the company also added two cruise ships, boosting stateroom capacity by 50% and pushing resorts revenue up 17% to $2.77 billion.
why it matters: as international travel to the us drops, disney's parks still set revenue records, showing consumer demand for experiences stays strong.
source: cnbc_topnews
sentiment: +0.70 · impact: 0.50