The “Happiest Place on Earth” recently saw an increase in attendance and guest spending, thanks mainly to higher ticket prices, but these gains were impacted by inflation, according to the latest Disney quarterly report.
Analysts found that higher attendance and visitor spending at the Disneyland Resort were largely offset by higher costs driven by inflation, the report said.
Tickets to Disneyland and Disney California Adventure increased by 8% in October 2022. The new price of a one-day, one-park ticket can now range between $104 to $179, while one-day Park Hopper tickets now cost $244 per day.
The cost of an annual pass, known as Magic Keys, also increased last year. The resort previously told media outlets that Magic Key prices increased by 16% across the four different Magic Key types last year.
Regardless of the increased admission prices, guests still flocked to the Disneyland Resort to celebrate Disney 100, a celebration for Walt Disney Co.’s 100th anniversary, ride the new Mickey and Minnie Mouse themed attraction or enjoy other seasonal offerings.
Overall, the Disney Parks, Experiences and Products revenues increased by d 13% to $8.3 billion during the company’s third quarter which runs from April 2 to July 1, company officials shared on an earnings call on Aug. 9.
However, the closure of the Star Wars: Galactic Starcruiser themed hotel after less than two years of operation did hurt financial results, according to the report.