Disneyland Resort recently experienced a rise in attendance and guest spending, largely due to hiked ticket prices. However, these gains were significantly offset by higher costs driven by inflation, as noted in the latest Disney quarterly report.
Prices for tickets to Disneyland and Disney California Adventure rose by 8% in October 2022. The new price for a one-day, single-park ticket now ranges from $104 to $179, while one-day Park Hopper tickets cost $244 each.
The price of the annual pass, known as Magic Keys, also saw an increase last year. The resort reportedly announced a 16% price increase across the four different Magic Key types.
Despite the price hikes, visitors continued to flock to the Disneyland Resort to participate in the Disney 100 celebration commemorating Walt Disney Co.’s 100th anniversary, enjoy the new Mickey and Minnie Mouse themed attraction, or take part in other seasonal offerings.
Overall, revenues for Disney Parks, Experiences and Products rose by 13% to $8.3 billion during the company’s third quarter, which runs from April 2 to July 1, as shared by company officials during an earnings call on Aug. 9.
However, the report noted that the financial results were negatively impacted by the closure of the Star Wars: Galactic Starcruiser themed hotel after less than two years of operation.
The report underscores the challenges faced by attraction parks in balancing the rising costs of operation, driven by inflation, with maintaining visitor numbers and revenue.