Euro Disney: Income down in fiscal '98-'99

PARIS -- Euro Disney, operator of the Disneyland Paris theme park complex, posted net income of $24.8 million for the fiscal year ended Sept. 30, a decrease of about 46% compared with fiscal 1997-98.

The Walt Disney Co. which owns 39.1% of the complex, took royalties and fees of about $34 million for fiscal 1998-99.

It had waived royalties and fees for the previous five years because of depressed property values.

Hotel occupancy in fiscal 1998-99 was a record 82.6%, up 1.7 percentage points.

But attendance remained unchanged from the previous fiscal year at 12.5 million. Meanwhile, Studio Disney, the company's second European theme park, is expected to open in Paris in 2003, pending financing agreements.

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