Yesterday, The Walt Disney Company released its quarterly earnings report and, while the company still had a decent showing overall, Disney covered some troubling overall income numbers with the news that it would be pulling all of its tv and films from Netflix by 2019 and adding them to a property streaming service.
However, while things might be sputtering a little bit for the company as a whole, we were surprised to learn that the report for the Parks and Resorts division was actually pretty great, with Disney confirming that they actually saw some pretty good results during this most recent quarter, which ran from March through the first of July. You can read the report in full, here.
1. Attendance is up again, but there's a catch...
Though wait times have been going down at Walt Disney World in recent weeks, it looks like the first half of the summer saw a sizable boost for the resort, with Disney reporting that attendance from mid-Spring to July first was up 8% from last year. However, there's a bit of a catch here, as this period included the Easter holiday in 2017, unlike in the year before, which skews the numbers upwards a bit.
However, while the holiday definitely boosted numbers a fair amount during this period, the opening of Pandora - The World of Avatar in mid-May also probably helped push up attendance numbers during this period as well. Though this was far from the largest opening at Walt Disney World, crowds were very high during the end of May and through early June as guests clamored to be among the first to enter this new land.
Though this is the second consecutive quarter that attendance has been up, all eyes will be on the current quarter, which includes the latter half of the summer, which has seen wait times plummet around the resort, and the introduction of massive deals and discounts on everything from theme park tickets to dining and even hotels. And speaking of...
2. Hotel occupancy is down for the second quarter
Although the attendance news from Disney Parks in the US overall was pretty positive, there was a little bit of bad news for the company to share as well, as hotel reservations at domestic resorts held steady from last quarter at 88 percent, which is less than ideal for Disney during this period of high travel and lower than in previous years. Disney attributed this stagnation to the timing of promotions as well as reduced room inventories because of renovations and conversions.