The summer’s warmer weather might draw thrill seekers to Walt Disney Co’s (NYSE:DIS) popular theme parks in Florida and California, but their newly raised prices might also turn people away.
According to Reuters, consistent with the company’s pattern of annual price increases at its U.S. resorts, Walt Disney has raised its single-day admission prices as much as 9.6 percent at its Florida and California theme parks.
While a one-day entry to Disney’s Magic Kingdom at the Walt Disney resort used to cost people ages 10 and older $89, it now will cost them $95. This represents a 6.7 percent jump.
The same trend holds true for Disneyland in Anaheim, California, where guests will find that the cost of a single-day pass has risen from $87 to $92, a 5.7 percent increase. And single-day passes aren’t the only tickets costing customers more and more. Prices for multi-day tickets and annual passes are also on the incline.
Time will tell if people will continue to visit these theme parks which represent Disney’s second-largests unit, or if high prices will scare them away. A quarterly report on May 7 reflected that visitors were still flocking to the parks, as the company posted a quarterly operating income 73 percent higher than a year earlier, at $383 million.