Skift Travel News Blog

Short stories and posts about the daily news happenings around the travel industry.

Tourism

Disney Parks Chairman D’Amaro Mentioned Among Possible Successors to CEO Iger

2 weeks ago

Josh D’Amaro, Disney Parks, Experiences and Products Chairman, could become the next CEO of The Walt Disney Company.

The company on Sunday announced Bob Iger was returning to lead Disney as CEO, replacing Bob Chapek. Iger will work closely with Disney’s board to recruit the next person to lead the company after his two-year stint.

Now D’Amaro could be next in line, according to reports.

D’Amaro recently spoke at Skift Global Forum, where he discussed how the company will continue to thrive and push boundaries around storytelling and experiences.

Meanwhile, Reuters said Dana Walden, a former Fox television executive who leads Disney’s General Entertainment Content group, was another potential internal candidate.

Whoever takes over, a big challenge will be managing Disney+, the brand’s all-in streaming video strategy, according to Reuters.

Business Travel

Disney Cutting Business Travel and Meetings-Related Travel After Belt Tightening

4 weeks ago

The first tremors of economic slowdown are beginning to be felt in the travel industry: even though Disney Parks had a record quarter, the overall parent company had a disappointing quarter in its other businesses and is now planning a hiring freeze, job cuts and other expense cuts. As part of that, CNBC reports that in a memo sent by Disney CEO Bob Chapek today, the company is cutting back on business travel as well as travel for events and internal meetings.

From the memo: “In the immediate term, business travel should now be limited to essential trips only. In-person work sessions or offsites requiring travel will need advance approval and review from a member of your executive team (i.e., direct report of the segment chairman or corporate executive officer). As much as possible, these meetings should be conducted virtually. Attendance at conferences and other external events will also be restricted and require approvals from a member of your executive team.”

This comes as tech companies are going through a blistering round of layoffs that are starting to have first order and more downstream effects in the travel sector.

Tourism

Disney Parks Posts Record Quarterly Revenue Even With Some Closures

4 weeks ago

The Walt Disney Corporation announced on Tuesday during its fourth quarter earnings call that its theme park division generated $7.42 billion worth of revenue, a division record and a 36 percent increase from the same period last year.

Disney’s theme parks posted record revenue for the quarter ending Oct. 1 despite Hurricane Ian forcing the closure of all Walt Disney World parks in Florida for two days in September and Shanghai Disneyland’s strict entry rules limiting the number of visitors. Disney Parks’ quarterly operating income of $1.5 billion was more than double last year’s figure. In addition, Disney also said its theme park division also set all-time records in both revenue and operating income for a full year.

However, Disney reported weaker than-expected-quarterly earnings in large part due to its streaming business losing $1.47 billion during the period. The company’s recorded $20.2 billion worth of revenue for the fourth quarter. Analysts had projected Disney to generate $21.27 billion of revenue.

Disney World entrance
Disney Parks posted record revenue for the fourth quarter despite the brief closure of Disney World in September. (Jrobertiko/Wikimedia Commons)

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