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Companies: Euro Disney Takes Blow From Sagging Tourism; Theme-Park Operator Posts A Net Loss of 56 Million Euros For the Full Fiscal Year
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Companies: Euro Disney Takes Blow From Sagging Tourism; Theme-Park Operator Posts A Net Loss of 56 Million Euros For the Full Fiscal Year
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Companies: Euro Disney Takes Blow From Sagging Tourism; Theme-Park Operator Posts A Net Loss of 56 Million Euros For the Full Fiscal Year
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Newspaper Article
Companies: Euro Disney Takes Blow From Sagging Tourism; Theme-Park Operator Posts A Net Loss of 56 Million Euros For the Full Fiscal Year
2003
Overview
Like similar companies, Euro Disney in recent months has been fighting a downturn in tourism from a combination of terrorist threats, the economic downturn and scares like severe acute respiratory syndrome. Attendance at Euro Disney's theme parks slipped 5.3% to 12.4 million visitors during fiscal 2003, while occupancy rates of its approximately 5,800 hotel rooms fell 3.1 percentage points to 85%. \"Management has to come up with an operating plan that is convincing,\" brokerage firm Fideuram Wargny in Paris said. \"Euro Disney has to find a way quickly of increasing its sales in order to generate sufficient cash flow to cover its debt repayments.\"
Publisher
Dow Jones & Company Inc
Subject
