The price hikes at Walt Disney’s two theme parks are putting a crimp on consumers and their travel budgets. Disney could be ruining the Great American vacation and putting a damper on “The Happiest Place on Earth.”
Shares of Disney tumbled on Tuesday after the company reported its third-quarter earnings as continued losses at ESPN, its sports cable network, impacted profit margins. Disney’s stock dipped by 3.8% on Wednesday to $101.67. The stock closed at $101.32 on Thursday, down 1.66%, and opened at $101.25 Friday morning; midday trading saw the stock up almost 1%, at $102.35.
While Disney has boosted its one-day ticket prices at Disneyland Resort in Anaheim by a whopping 70% over the past decade, according to a report by the Los Angeles Times, attendance has not waned, and the complex’s two parks, Disneyland Park and Disney California Adventure, are just as busy even though ticket prices vary daily based on the number of people.
For instance, if you were attending on August 14, a Monday which might have lower demand, the price is $97, but rises to $110 on regular days, and $124 on peak days. The prices are determined in advance and Disney’s website has color-coded the dates.
Prices have also risen at Walt Disney World in Orlando but a little more modestly. A ticket for one day is $107 or a 51% increase over the past ten years — it’s significantly less than the 67% increase over the same period for a regular ticket to Disneyland.
Visitors can also reserve ride times from a mobile app and skip standing in long lines by paying $10 a day for its MaxPass.
Report: The Street