On Tuesday The Walt Disney Company reported on earnings for the third quarter of its 2010 fiscal year. Theme parks' performance was addressed, along with a brief mention of the Aulani resort in Hawai'i.
Chief Executive Officer Bob Iger reported that third quarter attendance at the domestic parks was down 4% at Disneyland and 2% at Walt Disney World compared to the same period during the 2009 Fiscal Year. However, after factoring-in a shift in the Easter holiday--Easter was in the 3rd quarter of 2009 but moved to the 2nd quarter of 2010--overall attendance is only down 1% at the US-based theme parks.
Meanwhile guest spending rose by 5% compared to 3Q 2009 due to higher prices and reduced discounting. Overall profits at the Parks and Resorts division fell by 8% in a year-to-year comparison.
Looking ahead, Iger reports that reservations for the fourth quarter are only 1% under the 2009 pace--an encouraging sign given ongoing economic uncertainties.
During the question and answer session, Iger had this to say regarding the Aulani hotel and Disney Vacation Club timeshare property in Hawai'i:
"On Hawaii front, we did start selling Hawaii in the third quarter, the numbers from a revenue perspective are virtually non existent and so they will be in the fourth quarter and we’re selling Hawaii, both domestically and outside of Japan, where we established the sales center at Tokyo Disneyland, and we’re reasonably encouraged with the reaction so far to that property."
Aulani sales officially began on July 1, 2010. The third quarter of Disney's fiscal year ended July 3, 2010.
Overall profit for the company rose by 40% compared to 2009, largely due to the success of films such as Alice in Wonderland, Toy Story 3 and Iron Man 2.
Additional information: Orlando Sentinel, Earnings call transcript
