Theme parks, higher guest spending and a 17% increase in resorts and vacations revenue drive growth, while Disney Cruise Line benefits from two new ships
Disney’s Experiences segment delivered another strong quarter in fiscal 2026, with revenue rising 10% to USD 10 billion in the third quarter, compared with USD 9.1 billion in the same quarter a year earlier.
The segment, which includes Disney’s theme parks, resorts, cruise operations and related experiences, benefited from higher attendance, increased per-capita guest spending and continued expansion of the cruise business. The Walt Disney Company reported its fiscal third-quarter results on August 5.
Within Experiences, Parks & Experiences revenue increased 10% to USD 8.9 billion, supported by approximately 6% volume growth and 3% rate growth. Global customer volumes increased 4%, while attendance at Disney’s domestic parks rose 3%.
Domestic guests also spent more during their visits, with per-capita spending increasing 4%. Theme park admissions revenue grew 9%, reflecting a 5% increase in per-capita ticket revenue and 3% attendance growth. Merchandise, food and beverage revenue increased 7%, supported by higher volumes and guest spending.
Walt Disney World posts strong quarter
Walt Disney World Resort delivered a particularly strong performance during the quarter, with both domestic tourist and annual passholder attendance increasing. Summer promotions and new offerings contributed to the growth.
International attendance at Disney’s US parks remained a headwind, although the impact moderated compared with the previous quarter.
Internationally, Disneyland Paris benefited from stronger attendance following the opening of World of Frozen at Disney Adventure World. Growth at the European resort was partly offset by softer performance at Disney’s parks in Asia, a trend the company expects to continue into the fourth quarter.
Domestic Parks & Experiences operating income increased to USD 2.1 billion, up 27%, while international Parks & Experiences operating income declined 13% to USD 369 million.
Disney noted that domestic operating income included approximately USD 100 million in tariff refunds, which represented around 4% of the segment’s overall operating income growth and had no impact on revenue.
Cruise business accelerates
Disney’s cruise operation was another major growth driver. Resorts and vacations revenue increased 17%, including a 10% contribution from additional passenger cruise days.
The growth reflects the expansion of Disney Cruise Line following the launch of the Disney Destiny in November 2025 and the Disney Adventure in March 2026. The two ships increased stateroom capacity by approximately 50% compared with the year-earlier quarter, and the third quarter was the first full quarter in which both vessels were in service.
Revenue growth in the resorts and vacations category also included a 2% contribution from higher average daily hotel room rates and another 2% from increased occupied hotel room nights.
Disney said it remains encouraged by current occupancy levels and forward bookings as it continues to expand its cruise fleet. Ships in the pipeline include the Disney Believe, expected in late 2027, an Oriental Land Company-branded vessel and another ship planned for 2029, followed by an additional vessel expected in late 2030.
Major attractions in development
Disney is continuing to invest heavily in new attractions and expansions across its global theme park portfolio.
Projects in development include Villains- and Monsters, Inc.-themed areas at Walt Disney World, a Coco-themed attraction and an expansion of Avengers Campus at Disneyland Resort, a Lion King-themed area at Disneyland Paris, an Avatar experience, a Spider-Man-themed land at Shanghai Disney Resort and a Marvel attraction at Hong Kong Disneyland.
Development is also continuing on Disney Abu Dhabi, while the company has introduced a new Mandalorian-themed update to Millennium Falcon: Smugglers Run at both Disneyland and Walt Disney World.
The pipeline reflects Disney’s strategy of using its intellectual property to create new physical experiences and encourage repeat visits across its parks and resorts.
Company revenue also increases
At company level, Disney reported third-quarter revenue of USD 25.2 billion, up 7% from USD 23.7 billion a year earlier. Income before income taxes increased 14% to USD 3.6 billion, while total segment operating income rose 21% to USD 5.6 billion.
The Experiences segment has become an increasingly important contributor to Disney’s overall financial performance. In fiscal 2025, the segment generated USD 36.16 billion in annual revenue, up 6% from the previous year, while segment operating income reached USD 9.995 billion.
The latest quarterly performance underscores the strength of Disney’s parks and cruise businesses as the company expands its portfolio of attractions, destinations and vacation products. With new ships entering service and major attractions under construction across several resorts, Experiences remains central to Disney’s strategy for long-term growth.
