Euro Disney Posts Profit

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Euro Disney SCA said Thursday that sales rose 12 percent in the fiscal third quarter as Europe’s largest theme park operator drew more visitors to its parks and hotels with discounts and new attractions.


Revenue climbed to $441 million from 287 million euros in the year-earlier period, the Marne-La-Vallee, France-based company said.


Euro Disney said it has added several attractions in celebration of its 15-year anniversary and also added special deals for local visitors to boost park attendance.


Euro Disney has lost nearly $700 million since it decided to open a second park that cost $839 million back in 2002.


The company also reported hotel revenue also increased 21 percent to $189 million while hotel occupancy climbed 4.7 percentage points.


Euro Disney is controlled by Walt Disney Co., which owns about 40 percent of the stock. Saudi Prince Alwaleed Bin Talal is the second-biggest investor, holding 10 percent.


Shares in Disney dropped 71 cents, or 2 percent, to $34.22 in afternoon trading on the New York Stock Exchange.

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