BREAKING: Hotel Bookings and Park Attendance Have DECREASED at Disney World

One surefire way to stay up to date on everything that’s hip and happening with the Walt Disney Company is to tune in to their quarterly earnings calls.

Disney’s quarterly earnings reports can seriously provide so much insight regarding Disney’s plans for the future — rides, movies, and even price increases. August 9th marked the Q3 earnings report for fiscal 2023, and we got some insider deets!

In the earnings report, Disney shared with stakeholders and fans what park numbers and crowds have looked like so far in 2023. So let’s take a deep dive into these numbers.

Overall, Disney Parks, Experience, and Products revenues for the quarter were $8.3 billion which is a 13% increase. Segment operating income increased 11% to $2.4 billion.

The higher operating results during this quarter are because of increases at the international parks and resorts. However, there were lower results at the domestic theme parks and resorts. This has been a pattern with park revenue — the international parks are increasing while there are lower results at the domestic parks.

Disney says the decrease seen for its domestic operations was due to lower results at the domestic parks and Disney Vacation Club, driven by lower unit sales, and this was partially offset by an increase at Disney Cruise Line.

The biggest loss was over at Disney World. Results at Disneyland Resort were “up modestly compared to the prior-year quarter.”

Disney says the decrease at Disney World was due to higher costs which came from inflation and accelerated depreciation related to the permanent closure of the Star Wars: Galactic Starcruiser. The hotel experience is set to close in September.

Lower volumes also played a part and this was due to a decrease in occupied room nights and attendance in the hotels. We’ve recently seen several hotel deals, including a discount on rooms around the holidays (which are usually very popular), so it seems Disney is trying to fill those rooms.

Going over to Disneyland Resort, there was higher attendance and increased guest spending that was offset by higher costs due to inflation. The growth in guest spending is due to an increase in ticket prices.

And there you have it! We’ll continue to keep you updated with any and all Disney news, so make sure to follow along for more.

“We Have a Lot of Work To Do Here” — Bob Iger Comments on Disney Parks

Are you surprised by Disney’s earnings report on the parks? Let us know in the comments.

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