Going to Disney theme parks just became pricier
It may be a small world after all, but it takes more than a small bank account to visit Disney World.
The theme park raised its rates on Sunday, boosting its one-day ticket price by 6 percent to $105 plus tax, making it the first Disney resort to push its price beyond the $100 mark. Rates at Disneyland and California Adventure are also getting a hike, rising from $96 to $99.
The price hike comes as Disney's (DIS) theme parks unit has been thriving, with revenue in the division rising 9 percent in the fourth quarter, thanks to more visitors and higher spending at its properties. Even before the most recent price hike, Disney resorts were far from affordable, with the happiest place on earth taking a less-than-happy bite out of families' budgets.
While a one-day visit will set a family back hundreds of dollars, there are also the additional expenses of food and lodging, if visitors stay overnight. Yet despite the cost, Disney theme parks have only gained in popularity, with even a recent measles outbreak in Disneyland failing to deter crowds from entering the Magic Kingdom.
Disney didn't immediately return a request for comment. A spokesman told the Orlando Sentinel, "A day at a Disney park is unlike any other in the world, and there is strong demand for our attractions and entertainment."
Buying tickets for two or more days of entry remains more cost effective than a one-day pass, with a five-day pass offering the best value $315 per ticket, or $63 per day for those over 10 years old.
Pricing itself as one of the most expensive theme parks could also help Disney maintain a certain cache, especially with middle-class and upper-middle class families who are looking to splurge on their kids.
For some, the higher price for one-day entry will still be worth it, given that Broadway shows often cost much more than $100 for a ticket, yet only offer two hours of entertainment compared with a full day at Disney World.
In 2012, Disney ranked as the top theme park group worldwide, pulling in $126.5 billion in spending, or more than three times the $34.5 million brought in by Universal Studios, according to a report from Aecom.
Whether competing theme parks boost their prices is the next question, as many follow Disney's lead in hiking admission costs. Universal Orlando costs $96 for a one-day entry.