Disney CEO Bob Chapek Says "No End In Sight" For Park Reservation System
News - WDW 14-May-2022
The Walt Disney Company recently released their Q3 results. Revenue from Disney Parks, Experiences and Products rose 109.6%, to $6.7 billion ($1.76 billion profit, compared to a year-ago loss of $406 million).
In the earnings call, CEO Bob Chapek noted the Parks business was still "firing on all cylinders," thanks to "strong demand, coupled with customised and personalised guest experience enhancements that grew per capita spending by more than 40% versus 2019."
He also commented on the Disney Park Reservation System (or Disney Park Pass system). He said the Company is still encouraged by the way that attendance is trending in relation to the reservation system. CEO Bob Chapek said "We're controlling our attendance…using our reservation system to optimise the guest experience. But that domestic yield strategy... is really exceeding our expectations." He also shared that he is encouraged by the continuation of the trends he's seeing when it comes to things like the number of people signing up for Genie+, plus the willingness to come to the parks with the reservation system.
"Domestic yield strategy has really structurally allowed us to increase per capita spending meaningfully without having to rely solely on raising ticket prices." And, he added, "we don't see any end in sight for that."
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