Disney’s Fiscal Full Year and Q4 2019 Earnings Webcast

[MisterPenguin]

Wait.... wut?

He said there is price adjusting to demand with higher prices for peak and lesser for off-peak. Something he's been saying for three years and implement with daily surge pricing last year.

 

[MisterPenguin]

5 million have ridden SW:MF:SR.

 

[VJ]

Bob seems really on-edge and overly defensive today, especially about Parks numbers. Hmm.

 

[Disney Analyst]

Iger just corrected himself:

“I was way off, Falcon is at 5 million riders”

 

[AnotherDayAnotherDollar]

Sometime this evening, Disney will post a 10K to the SEC.gov site. This will give us greater detail about individual parks.... On the call the CFO made statements and was asked a question about Q1 Parks revenue and earnings. She did say revenue is likely to be up based on early bookings for the domestic parks, but earnings will be off-set based on higher hourly wage agreement which went into effect at the beginning of the new fiscal year.

Also, there will be 53 weeks of earnings in 2020 compared to 52 weeks in 2019.

Bob Iger also commented that both SWGE attractions are much more successful than reported. Over 1.7 million people have ridden the first ride in DisneyLand since it was opened at the end of May.

Iger just corrected himself. It's 5 million, not 1.7 million.

 

[Sir_Cliff]

He said there is price adjusting to demand with higher prices for peak and lesser for off-peak. Something he's been saying for three years and implement with daily surge pricing last year.

I guess the promise is that prices will go up less during slower times.

Last question also included query about low attendance at the parks.

 

[Disney Analyst]

Guest bookings up 5% year to year.

 

[bartholomr4]

Bob seems really on-edge and overly defensive today, especially about Parks numbers. Hmm.

I didn't get that.....

 

[monothingie]

Guest bookings up 5% year to year.

Heavily Discounted***

 

[Sir_Cliff]

Happy to see Disneyland Paris continuing to be a bright spot in terms of parks, with an increase in both attendance and revenue this quarter. Having been there a few weeks ago, Disneyland Parc is looking great now that it is finally being properly maintained.

 

[mikejs78]

Heavily Discounted***

As is every other year. Less discounted than prior years.

 

[drizgirl]

He said there is price adjusting to demand with higher prices for peak and lesser for off-peak. Something he's been saying for three years and implement with daily surge pricing last year.

Yeah, that's some pretty fancy double talk right there. Maybe off peak got less of an increase, but I'm quite sure almost nothing actually went down.

 

[monothingie]

As is every other year. Less discounted than prior years.

I’d check that. Seasonal Discounts were very generous year to date this year compared with the last 3 years. Room only were 5-10% more and there were more free dining promos.

 

[mikejs78]

I’d check that. Seasonal Discounts were very generous year to date this year compared with the last 3 years. Room only were 5-10% more and there were more free dining promos.

From Sept onwards, the discounts have been more selective than past years (not all dates available for discounts, only Sun-Thurs stays in some cases, etc.). Prior to September, yes, I'd agree with you. Jan-Aug were certainly heavier than previous years.

The 5% number though was referring to how bookings were tracking for 2020...

 

[monothingie]

From Sept onwards, the discounts have been more selective than past years (not all dates available for discounts, only Sun-Thurs stays in some cases, etc.). Prior to September, yes, I'd agree with you. Jan-Aug were certainly heavier than previous years.

The 5% number though was referring to how bookings were tracking for 2020...

Bookings are weak for Winter 2020, hence the discounts for Winter 2020 are more generous than 2019.

 

[Disorbust]

So 5% based on same number of rooms as least year. So it account for the increased inventory?

 

[HauntedPirate]

I can't imagine they are happy with an 8% increase in the parks after spending a couple billion on SW:GE, even with only one attraction open (but all food and merchandise locations operating), but they'll definitely try to make it sound good no matter what.

Anyone want to bet that the phrase "an increase in guest spending due to higher ticket and food prices" makes it way into the report somewhere?

 

[peter11435]

I can't imagine they are happy with an 8% increase in the parks after spending a couple billion on SW:GE, even with only one attraction open (but all food and merchandise locations operating), but they'll definitely try to make it sound good no matter what.

Anyone want to bet that the phrase "an increase in guest spending due to higher ticket and food prices" makes it way into the report somewhere?

GE opened August 29.

The quarter ended September 28

 

[bartholomr4]

So 5% based on same number of rooms as least year. So it account for the increased inventory?

The CFO stated in the 4th quarter, 85% room occupancy..... She then said for Q1 2020 (looking forward) current bookings are running at a 90% room occupancy.... thus the 5% increase.

 

[mikejs78]

Bookings are weak for Winter 2020, hence the discounts for Winter 2020 are more generous than 2019.

Looking at the discount rates from winter 2019 and winter 2020, they appear exactly the same. Both years room only, for example, were 15/20/25, and AP room only 25/30/35. How are they more generous, exactly?