Disneyland, Disney World lift some park ticket prices

(Reuters) – Walt Disney (NYSE:) Co said on Wednesday it is raising some theme-park ticket prices for its Disneyland resort in California and Walt Disney World in Florida, weeks after the entertainment giant unveiled a hefty spending plan for its parks business.

The company has hiked prices at Disneyland by up to 8.9%, with the price per ticket on busy days such as holidays increasing by 8.4% to $194. Yearly pass prices at Walt Disney World in Orlando are rising by up to 10%, with the most expensive Incredi-Pass now selling for $1,449, up $50.

Disney’s parks business recorded a strong rebound from the pandemic but domestic footfall has grown softer recently as a high cost of living in the United States likely deters people from spending on theme parks.

Earlier this month, Disney said it will offer discounts on ticket prices for children at its theme parks for a limited period as it looks to spur traffic.

The attempts to boost revenue come after Disney revealed a $60 billion spending plan on parks and cruises over the next 10 years – a plan that came amid dwindling cash reserves at the company and had worried some Wall Street analysts with its long road to payoff.

The price changes are effective immediately, Disney said in a statement on Wednesday.

It is not hiking daily pass prices at Florida, and is also maintaining the same price of its cheapest ticket at Disneyland, at $104, which hasn’t changed in four years.