Some posts may contain affiliate links which means our team could earn money if you purchase products from our site.
Walt Disney Co. expects to offer fewer discounts at U.S. theme parks in 2010 as the economy improves, according to Chief Executive Officer Robert Iger.
The world’s biggest theme-park operator has already reduced discounts from a year ago, Iger said today at a UBS AG investor conference in New York. Disney added promotions in November 2008 to attract visitors during the credit crunch.
“We will be able to continue to dial that back over the latter part of 2010,†Iger said, referring to discounts on hotel rooms, food and merchandise. “We are not making these commitments yet until we see the marketplace conditions.â€
After previous recessions, Disney has scaled back the promotions, Iger said. Since last year, the company has offered free hotel nights and discounts on food and merchandise. The parks unit has reported four straight quarters of lower revenue and profit compared with year-ago periods.
Last month, Disney announced that Chief Financial Officer Tom Staggs and Jay Rasulo, head of the company’s parks, will swap positions in a move designed to bolster the experience of both executives. The switch takes effect at year end.
Disney, based in Burbank, California, rose 2 cents to $30.70 at 4:15 p.m. in New York Stock Exchange composite trading. The shares have gained 35 percent this year.
Source
Get all the best Disney News
and more, straight to your inbox!
We don't spam. Read our privacy policy for more info.
For the BEST in Disney, Universal, Dollywood, and SeaWorld Theme Park News, Entertainment, Merchandise & More follow us on, Facebook, Instagram, and Youtube. Don't forget to check out the Chip and Company Radio Network too!
Let our friends at Destinations to Travel help you book your next Disney Vacation. They are the preferred Travel Agency of Chip and Company and Disney Addicts, and who we use ourselves.
Click Here for your FREE No Obligation Quote.
