As Walt Disney Co.'s Parks and Resorts division
reported nearly $1 billion in first-quarter operating income, analysts on the
company’s earnings call on Tuesday repeatedly asked just how much more the division
can grow.
“I think there are many avenues for us to continue to
grow that business,” COO Tom Staggs said on the call.
Staggs noted that Disney has broken ground on Star
Wars Lands at Disneyland in Southern California and Disney's Hollywood Studios
in Florida, and will open an Avatar-themed area at Disney's Animal Kingdom at Disney
World in 2017.
“So we have new attractions here domestically that we
think guests will really embrace. I think we also see opportunities, given the
strong occupancy of room nights that we see, to consider expanding our hotel
capacity down the road,” said Staggs.
Disney executives also pointed to the June 16 opening
of the Disney Shanghai resort as another opportunity for fueling long-term
growth for the Parks and Resorts division.
Companywide, Disney's net income increased 20%, to
$4.3 billion, for its fiscal first quarter, and revenue rose 14%, to $15.2
billion. The results were driven largely by the overwhelming box office success
of the latest Star Wars movie, "Star Wars: The Force Awakens."