Real estate development operating segment revenues increased by € 6.0 million to € 6.3 million, from € 0.3 million in the prior-year period. This increase was due to one transaction closed during the First Quarter while no transaction closed in the prior-year period.
Costs and expenses increased during the First Quarter compared to the prior-year period, due to costs associated with real estate development activity, new guest offerings and labor rate inflation.
Commenting on the results, Philippe Gas, Chief Executive Officer of Euro Disney S.A.S., said:
" As we continue to celebrate our 20 th anniversary, resort revenues improved year-on-year even with a shift of one week ' s worth of vacation into our second quarter as compared to last year. The resort revenue increase, coupled with higher real estate revenues, drove total revenues up 3% to last year.We continue to feel the impacts of the broad European economic downturn and our short-term visibility remains low. However the fundamentals of our business are strong and we are confident in our ability to drive our business towards sustainable growth. As our investments in our guest experience continue in 2013 and beyond with our hotel refurbishment program and our expansion plan for the Walt Disney Studios ® Park, we will further enhance the appeal of Disneyland Paris . " RECENT AND UPCOMING EVENTS The celebration of Disneyland ® Paris' 20 th Anniversary launched in April 2012. This event features a number of brand new guest experiences, including Disney Dreams ® !, a nighttime spectacular, as well as Disney Magic on Parade! and Meet Mickey Mouse . Given its success, the celebration will continue for an additional six months beginning April 2013, offering guests more time to experience this magical period at Disneyland Paris. On January 8, 2013, the Supervisory Board of the Company appointed Mrs. Virginie Calmels as Chairman, replacing Mr. Antoine Jeancourt-Galignani, who has decided to retire from the Supervisory Board after serving 23 years as a board member including 17 years as Chairman. For more information, refer to the press release issued on January 8, 2013 which is available on the Company's website. Next Scheduled Release in February 2013: Annual general meeting - February 28, 2013 Additional financial information can be found on the internet at http://corporate.disneylandparis.com Code ISIN : FR0010540740