Originally Posted By dagobert Despite record attendance, ED SCA made another net loss in 2012. >>>EURO DISNEY S.C.A. Reports Fiscal Year 2012 Results • Total revenues up 2% to € 1.3 billion, reflecting record 16 million attendance and higher guest spending • EBITDA decreased by € 7 million to € 177 million, primarily due to lower real estate activity • 20th Anniversary celebration contributed to a second semester 5% increase in revenues and 10% increase in EBITDA • Net loss increased by € 36 million mainly due to a € 32 million non-recurring impact of the refinancing of the Group’s debt • The successful debt refinancing decreases the cost of debt and brings additional investment flexibility to grow the business<<< <a href="http://corporate.disneylandparis.com/CORP/EN/Neutral/Images/uk-2012-11-08-euro-disney-sca-reports-annual-results-for-fiscal-year-2012.pdf" target="_blank">http://corporate.disneylandpar...2012.pdf</a>
Originally Posted By dagobert Interesting news from Magicforum member Trekkie101: >>>From the conference call: 3 new hotels in design phase. - New luxury hotel at the parks, - First phase 2016/2017 2 mid value (Santa Fe, Cheyenne style), will use Disney theme and story rather than geography as is current. - Hotels 800/1000 rooms. - 20th bigger than 15th in terms of response. - Same investment into 2013, slight increase on 2012 in parks. - WDS investment to 2018/2019, to make it more like Disneyland Parc in terms of attract-ability.<<<
Originally Posted By leemac A mixed set of results overall - unfortunately the resort saw a higher percentage of visitors from France and Benelux which meant that hotel occupancy headed south to 84%. The overall spend per room increased which demonstrates that they didn't get the balance right between supply and demand. I'm sure planning for 2013 must be very difficult with so much economic uncertainty in the US, Europe and China. I'd wager that we will see a lot more discounting away from school holidays to try and boost that occupancy rate.
Originally Posted By leemac <<3 new hotels in design phase. - New luxury hotel at the parks, - First phase 2016/2017 2 mid value (Santa Fe, Cheyenne style), will use Disney theme and story rather than geography as is current.>> I'm not going to comment on the luxury hotel. The new moderate is going to be the Toy Story Hotel from Shanghai. There is a discussion going on about whether it should be the Art of Animation but I think most people seem to want the Toy Story Hotel.
Originally Posted By leemac << Same investment into 2013, slight increase on 2012 in parks.>> That isn't saying much as 2012 was hardly a banner year for capex! All of the spend for 2013 is for Kitchen Kalamity - I don't think there is even any new entertainment planned at the moment.
Originally Posted By dagobert >>>The new moderate is going to be the Toy Story Hotel from Shanghai. There is a discussion going on about whether it should be the Art of Animation but I think most people seem to want the Toy Story Hotel.<<< Oh no. Why don't they stick with the American theme? Do you know where the new hotel will be built? >>>I'm not going to comment on the luxury hotel.<<< Why? Is it a stupid idea to build another luxury resort.
Originally Posted By dagobert >>>I don't think there is even any new entertainment planned at the moment.<<< That's nothing new. It's been that way for several years now. >>>A mixed set of results overall - unfortunately the resort saw a higher percentage of visitors from France and Benelux which meant that hotel occupancy headed south to 84%. The overall spend per room increased which demonstrates that they didn't get the balance right between supply and demand.<<< Is that a good occupancy rate? What do you meant with "they didn't get the balance right"?
Originally Posted By leemac >>>I'm not going to comment on the luxury hotel.<<< Why? Is it a stupid idea to build another luxury resort.>> I don't want to get into trouble.
Originally Posted By leemac <<Oh no. Why don't they stick with the American theme? Do you know where the new hotel will be built?>> Couple of reasons: 1) No design costs - design has already been done. 2) Art of Animation has demonstrated that guests will respond strongly to character-themed hotels. Sadly it is the way of the world now. 3) Location is likely to be between the NBC and WDSP.
Originally Posted By leemac <<Is that a good occupancy rate? What do you meant with "they didn't get the balance right"?>> A decline of 300 basis points is big. 84% is getting down to the breakeven point which is between 75-80% for those hotels. The increase in spend per room more than offset the decline in occupancy rate so that is the upside. However you don't want to see occupancy rates fall below 80% again. The balance is pushing rates higher in the peak season whilst also filling them in the off-peak season with promotions like flash sales, kids go free etc. Occupancy is usually nearly 100% during the school holidays and DLP has continued to push the rates up every year (beyond inflation too). The problem is that the off-peak season comprises of more days than peak - so it is critical that they get a decent occupancy rate mid-week in January for example.
Originally Posted By dagobert >>>Location is likely to be between the NBC and WDSP.<<< Wouldn't that make the NPBC less special? I mean that's next to DV and not far from the parks. >>>No design costs - design has already been done.<<< Is it the hotel that looks like an "8" on the plans for Shanghai. I don't know how to describe it better, because I can't find the blueprint. >>>Art of Animation has demonstrated that guests will respond strongly to character-themed hotels. Sadly it is the way of the world now.<<< So the new Art of Animation is very popular? I don't like the look of the rooms, but I liked the Pop Century.
Originally Posted By dagobert >>>The balance is pushing rates higher in the peak season whilst also filling them in the off-peak season with promotions like flash sales, kids go free etc. Occupancy is usually nearly 100% during the school holidays and DLP has continued to push the rates up every year (beyond inflation too). The problem is that the off-peak season comprises of more days than peak - so it is critical that they get a decent occupancy rate mid-week in January for example.<<< Thanks a lot for explaining. >>>I don't want to get into trouble. <<< Okay, no problem. Can you at least tell where it should be built. It's still a long time, so maybe the plans change again and nothing will happen.
Originally Posted By leemac <<Is it the hotel that looks like an "8" on the plans for Shanghai. I don't know how to describe it better, because I can't find the blueprint.>> The Toy Story Hotel is like two squares joined together at one corner - so it is like a boxy figure of 8. 7 stories high with amenities in the center.
Originally Posted By dagobert >>>The Toy Story Hotel is like two squares joined together at one corner - so it is like a boxy figure of 8. 7 stories high with amenities in the center. <<< That's exactly what I mean. What a lame design, but since its based on TS people will go crazy about it.
Originally Posted By leemac <<That's exactly what I mean. What a lame design, but since its based on TS people will go crazy about it.>> There are only going to be two hotels on opening day with 1220 rooms - the TS Hotel has about 750 if I remember correctly. It is a typical moderate but more vertical that its WDW counterparts. The design and aesthetic did not appeal to me either. However all the hotels have to be character-based these days. Sad.
Originally Posted By dagobert >>>There are only going to be two hotels on opening day with 1220 rooms - the TS Hotel has about 750 if I remember correctly. It is a typical moderate but more vertical that its WDW counterparts. The design and aesthetic did not appeal to me either. However all the hotels have to be character-based these days. Sad.<<< Yes, very sad. In Paris it started already with the Santa Fe and Cars. I admit, that it might fit, but I prefer the original. The other hotel in Shanghai will be another Disneyland Hotel based on the Victorian age?
Originally Posted By dagobert leemac, do you have some informations about this here: >>>WDS investment to 2018/2019, to make it more like Disneyland Parc in terms of attract-ability<<<
Originally Posted By leemac <<The other hotel in Shanghai will be another Disneyland Hotel based on the Victorian age?>> Yup. It is a classic wing (Y-shaped) hotel. It will be on the south-side of the property. The design for both hotels is subject to change as they are currently in review with the JV partner and the government.
Originally Posted By leemac <<WDS investment to 2018/2019, to make it more like Disneyland Parc in terms of attract-ability>> Read: more characters. There are a host of enhancement projects that are under consideration at the moment - to open beyond Kitchen Kalamity in '14. AFAIK nothing has received explicit board approval as of yet so it is just a lot of concepts. However the park needs 3-5 more attractions according to management. I'd wager that there will be one attraction open annually from Kalamity in '14.
Originally Posted By dagobert >>>The design for both hotels is subject to change as they are currently in review with the JV partner and the government.<<< Okay. Maybe there's a chance that the TS hotel will get a new layout. Hopefully the Victorian theme stays. That's the typical Disney hotel which should be at every resort. >>>Read: more characters.<<< I hope we aren't talking about Meet & Greets. I guess you mean character based rides. >>>There are a host of enhancement projects that are under consideration at the moment - to open beyond Kitchen Kalamity in '14. AFAIK nothing has received explicit board approval as of yet so it is just a lot of concepts. However the park needs 3-5 more attractions according to management. I'd wager that there will be one attraction open annually from Kalamity in '14.<<< One attraction per year after Ratatouille sounds great. I hope there will be another dark ride. And hopefully there will be at least one original ride that isn't based on a Pixar franchise. Maybe it even isn't based on any character.
