Euro Disney Theme-Park Attendance Below Expectations (Update1)
Paris, July 23 (Bloomberg) -- Euro Disney SCA, Europe's
largest theme-park operator, said attendance at its two parks has
been below expectations since the second one opened in March as
clients delay bookings because of a lack of on-site hotel rooms.
``We have agreements with other hotels in the region, but th
pattern we're seeing is that people postpone visits until they ca
stay on site,'' said Caroline Raulet, a spokeswoman. ``We can see
the tendency extending into August.''
The second attraction, featuring rides and characters from
Disney movies plus some cinematic history to appeal to older
visitors, cost 610 million euros ($606 million). Chief Executive
Officer Jay Rasulo has said he expects the movie park to lift
ticket sales to more than 17 million a year from the roughly 12.5
million it's sold each year since 1997.
Euro Disney shares rose as much as 2 cents, or 3 percent, to
66 cents. They've shed 26 percent this year, valuing the company
at about 686 million euros.
Sales rose 12 percent to 297 million euros in the three
months ended June 30, buoyed by gains from hotels and real-estate
development. Ticket sales rose less than expected, Raulet said.
Paris, July 23 (Bloomberg) -- Euro Disney SCA, Europe's
largest theme-park operator, said attendance at its two parks has
been below expectations since the second one opened in March as
clients delay bookings because of a lack of on-site hotel rooms.
``We have agreements with other hotels in the region, but th
pattern we're seeing is that people postpone visits until they ca
stay on site,'' said Caroline Raulet, a spokeswoman. ``We can see
the tendency extending into August.''
The second attraction, featuring rides and characters from
Disney movies plus some cinematic history to appeal to older
visitors, cost 610 million euros ($606 million). Chief Executive
Officer Jay Rasulo has said he expects the movie park to lift
ticket sales to more than 17 million a year from the roughly 12.5
million it's sold each year since 1997.
Euro Disney shares rose as much as 2 cents, or 3 percent, to
66 cents. They've shed 26 percent this year, valuing the company
at about 686 million euros.
Sales rose 12 percent to 297 million euros in the three
months ended June 30, buoyed by gains from hotels and real-estate
development. Ticket sales rose less than expected, Raulet said.