While The Walt Disney Company has started to bounce back from the financial fallout brought on by the COVID-19 pandemic, there are still areas of business where Disney has yet to fully recover.
Disney has filed a new report with the U.S. Securities and Exchange Commission (SEC) that details the company’s expenditures and profits for the fiscal year, and it shows some very promising information about Disney Resort hotels across the globe.
Domestic Disney parks hotel occupancy increased from 42% in 2021 to 82% in 2022, almost double the number of rooms booked from the prior year. This includes Disney World and Disneyland hotels.
Additionally, international Disney parks hotel occupancy went up from 21% in 2021 to 56% in 2022. These numbers are lower likely because Shanghai Disney Resort and Hong Kong Disneyland have been closed on and off for several weeks throughout 2022.
Not only that, but guest spending per room domestically is up as well. In 2021, guest spending per room was at 1% on average. By contrast, guest spending was up to 19% by the end of the fiscal year 2022. This means hotel room guests are spending more on average and Disney is making larger profits because of it.
Disney defines “Per Room Guest Spending” as the “total revenue from room rentals and sales of food, beverage, and merchandise at [Disney’s] hotels, divided by total occupied hotel room nights.”
This increase in resort revenue was due to “increases of 51% from higher occupied hotel room nights, 32% from an increase in passenger cruise days, and 17% from higher average daily hotel room rates,” according to the report.
While occupancy has gone up in Disney hotels around the world — likely because of a pent-up desire to travel and people feeling more comfortable doing so — it’s important to note that 17% of this growth was due to an increase in hotel room rates as well.
To read more about recent changes with The Walt Disney Company, check out the articles below:
- Click here to read the full statement regarding Chapek’s exit and Iger’s reentrance as CEO.
- Why Bob Iger Replaced Bob Chapek As Disney CEO
- Disney Stock Prices Rise After Iger Announced As CEO
- What CEO Has Made the Biggest Changes to Disney World
- Bob Chapek Reportedly Blindsided by Disney Firing
Be sure to stay tuned to AllEars as we continue to look for updates from The Walt Disney Company.
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