Disney Has Found a Backdoor Way to Raise Theme Park Prices
Walt Disney (NYSE: DIS) may have found a ceiling for theme park prices at its domestic parks.
Overall theme park revenue climbed by 7% to $6.6 billion in the third quarter, while operating income rose by 4% to $1.7 billion. Attendance was down, but the entertainment giant got the people who did come to spend more money -- and it explained how in its Q3 earnings release.
"The decrease in volume was due to lower attendance, partially offset by higher occupied room nights. Guest spending growth was primarily due to higher average ticket prices and increased food, beverage, and merchandise spending," the company reported.
Source Fool.com
