Walt Disney, $DIS, is raising ticket prices at its Disneyland resort by up to 9% and lifting annual pass prices at Walt Disney World by as much as 10%.
Disney is grappling with the sensitive issue of rising prices, as it endeavors to emphasize affordable travel packages for families visiting its resorts. In Florida, where attendance was weaker last quarter, daily admission prices are not being increased, and the cost of the least expensive Disneyland ticket, at $104, has remained unchanged since 2019.
The park is offering promotions, including a $50 ticket for children nine or younger. However, at Disneyland in Anaheim, California, a single ticket on peak days is seeing an 8.4% increase to $194, with other prices rising even more significantly. The Enchant annual pass, restricting access on certain weekends and holidays, is climbing by 21% to $849, while the Genie+ service, facilitating shorter lines, is rising by $5 to $30. Parking fees are also being raised.
Meanwhile, at Walt Disney World in Orlando, Florida, annual pass prices are going up by up to 10%, with the highest-priced Incredi-Pass reaching $1,449. Parking will see a $5 increase to $30, although it remains free for hotel guests. Starting on Jan. 9, guests can use "Park Hopper" tickets to move between parks throughout the day.
Disney announced plans last month to double its investment in the parks division to $60 billion over the next decade, including new attractions and cruise ships. In response to the price adjustments, the company highlighted its ongoing commitment to introducing innovative attractions and entertainment, emphasizing the value of a theme park visit with unique Disney experiences. Earnings at Disney's domestic parks dipped in the third quarter, primarily due to challenges at Disney World, including fewer guests and challenging comparisons with the previous year's 50th-anniversary celebrations.
