ORLANDO -- Walt Disney Co.'s Parks and Resorts segment recorded
flat revenue of some $1.5 billion in the March 31 quarter and the
primary villains were lower theme-park attendance and declining
occupancy at the Walt Disney World Resort, the company said.
Higher costs at Walt Disney World and the Disneyland Resort also
impacted the bottom line, Disney said.
And operating income for Disney's Parks and Resorts declined 45%
to $155 million, the company reported.
Sluggish attendance and escalating costs were partially offset
by increased guest spending at Walt Disney World, and increased
theme park attendance and hotel occupancy at Disneyland, according
to the company.
Disney said "increased attendance at Disneyland reflected the
continued success of the Annual Passport program, as well as the
opening of new attractions and entertainment at Disney's California
Disney chairman and CEO Michael Eisner noted that the Iraq
conflict and terrorism fears "clearly had a near-term impact on a
number of our businesses."
He added that Disney is "in a solid position when economic