Earnings update: Revenge of the 'little guys'
Written by Robert Niles
Here's the short version of how U.S. theme park companies are doing:Tweet
Disney, Universal, Busch: down
The details? We looked at Disney last week. Here are how other companies did over the past three months:
This was to be expected, given high gas prices and the consumer slowdown in the last quarter. U.S. visitors stayed close to home, favoring the "local" amusement parks run by Six Flags and Cedar Point, over the destination theme parks and resorts, run by Disney, Universal and Busch.
A weak dollar helped offset that loss by bringing in foreign tourists to Orlando over the summer, but with the dollar strengthening, that bump is going away, leading to sharply reduced advance bookings in Orlando.
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