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Disney to raise theme park admission prices
By Jonathan Burton, MarketWatch
Aug. 2, 2008
SAN FRANCISCO (MarketWatch) -- Visiting the Happiest Place on Earth is about to cost a little more. Walt Disney Co said late Friday that it's raising ticket prices at its domestic theme parks beginning Sunday, according to media reports.
One-day tickets for those 10 and older to Disneyland in Anaheim, Calif. will rise 4.5% to $69 from $66. Children ages 3 to 9 will pay $59, up 5.3% from $56.
At Walt Disney World in Orlando, Fla., one-day prices will rise 5.6% to $75 from $71, while tickets for children ages 3 to 9 will see a 5% hike to $63 from $60.
Multi-day tickets will also see price increases, and the "Park Hopper" option, which allows visitors to move between various Disney parks, will be $50, up 11% from $45.
Disney's move comes at a time when theme-park operators are coping with rising costs for gasoline, food and other basics that's causing many consumers to cut back on spending. Six Flags Inc. in fact lowered some admission prices to its parks earlier this year in an effort to attract customers.
But Disney's parks in California and Florida are somewhat resilient to the slowing U.S. economy since they're destinations for tourists from around the world, and benefit from the weak dollar that has boosted overseas travel to the U.S.
Earlier this week, Disney reported quarterly earnings that showed revenues from its parks and resorts unit Parks and Resorts increased 5% to $3 billion and operating income grew 3% to $641 million. Higher attendance and spending at Disneyland Resort Paris was the primary driver, but the company also noted increased income from Walt Disney World Resort that partially offset a decrease in attendance at Disneyland in California.
By Jonathan Burton, MarketWatch
Aug. 2, 2008
SAN FRANCISCO (MarketWatch) -- Visiting the Happiest Place on Earth is about to cost a little more. Walt Disney Co said late Friday that it's raising ticket prices at its domestic theme parks beginning Sunday, according to media reports.
One-day tickets for those 10 and older to Disneyland in Anaheim, Calif. will rise 4.5% to $69 from $66. Children ages 3 to 9 will pay $59, up 5.3% from $56.
At Walt Disney World in Orlando, Fla., one-day prices will rise 5.6% to $75 from $71, while tickets for children ages 3 to 9 will see a 5% hike to $63 from $60.
Multi-day tickets will also see price increases, and the "Park Hopper" option, which allows visitors to move between various Disney parks, will be $50, up 11% from $45.
Disney's move comes at a time when theme-park operators are coping with rising costs for gasoline, food and other basics that's causing many consumers to cut back on spending. Six Flags Inc. in fact lowered some admission prices to its parks earlier this year in an effort to attract customers.
But Disney's parks in California and Florida are somewhat resilient to the slowing U.S. economy since they're destinations for tourists from around the world, and benefit from the weak dollar that has boosted overseas travel to the U.S.
Earlier this week, Disney reported quarterly earnings that showed revenues from its parks and resorts unit Parks and Resorts increased 5% to $3 billion and operating income grew 3% to $641 million. Higher attendance and spending at Disneyland Resort Paris was the primary driver, but the company also noted increased income from Walt Disney World Resort that partially offset a decrease in attendance at Disneyland in California.
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