(Bloomberg) -- Walt Disney Co. is increasing ticket prices for its two Southern California theme parks by about 6% on most days.
The most expensive tickets — typically weekends and holidays — are climbing 6.2% to $206 a day, the company said Wednesday. The lowest-priced admission, available for at least 15 days in January and February, will stay at $104, unchanged since 2019. The Disneyland and California Adventure parks have seven pricing tiers in all. The new prices take effect immediately.
Disney, the world’s largest theme park operator, is choosing to raise prices while experiencing a slowdown at its resorts and pressure on profit because of rising costs. Chief Financial Officer Hugh Johnston told analysts on a call in August that the business would be slow for a few quarters. At the same time, the company is embarking on a $60 billion expansion of its resorts, which includes new attractions globally, as well as a growing fleet of cruise ships.
To increase traffic now, particularly with more price-conscious consumers, the company is introducing a number of promotions. Starting Oct. 22, for example, children ages 3 to 9 can visit Disneyland for a little as $50 a day. In Florida, the company is offering hotel discounts for multiday stays.
In Southern California, Disney’s lowest-cost annual pass, which comes with more blackout days than other passes, will rise 20% to $599. The highest price annual pass climbs 6.1% to $1,749. Advanced purchases of Lightning Lane passes, which allow guests to hop on shorter lines for rides, are rising 7% to $32. Annual-pass holders can enjoy discounts of as much as 50% on Lighting Lane passes.
On Tuesday, Walt Disney World in Orlando joined other operators in Florida including United Parks & Resorts Inc.’s SeaWorld and Comcast Corp.’s Universal resorts in closing its parks this week due to Hurricane Milton.
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