by Christopher Freeburn | June 4, 2013 9:17 am
Parents who want their give their kids a little Disney (DIS) magic will have to dig deeper into their wallets this summer.
The entertainment giant will raise the price of admission to its theme parks in California and Florida for both adult and child tickets. The increases take effect on Sunday, Variety notes.
At Disneyland and Disney California Adventure Park, one-day adult tickets will now cost $92, while a children’s tickets will hit $87, both up $5 a ticket. On the other coast, Disney World adult passes will rise to $95, up $6, while children’s passes will increase to $89. To visit Epcot, Hollywood Studios and Animal Kingdom, adults will pay $90 each, while children’s tickets will cost $84.
During the second quarter, Disney’s theme park and resort unit generated revenue of $3.3 billion, up 14% compared to last year.
Disney’s move comes on the heels of ticket price increases at a theme park rival. Last month, Comcast‘s (CMCSA) Universal Orlando Resort hiked its day-pass price to $92, a rise of 3.4%.
Last week, a Disney executive said that Disney World will soon replace physical tickets with “MagicBands,” electronic bracelets that will provide access to theme park attractions and resort services.
Shares of Disney was flat in Tuesday pre-market trading.
Source URL: http://investorplace.com/2013/06/disney-hikes-theme-park-admission-prices/
Short URL: http://invstplc.com/1fofoxu
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.