Disney Raises Park Prices, Plans Fixed-Date Ticketing

(Bloomberg) -- Walt Disney Co. raised admission prices to its theme parks and said it plans to introduce fixed-date ticketing in coming months to help reduce crowding at peak times.

Buoyed by new attractions like Pandora-The World of Avatar, the theme parks and resorts accounted for a third of Disney's $55.1 billion in 2017 revenue, with domestic attendance hitting a record high. The increased demand has generated crowding and longer waits for visitors during popular times like spring breaks.

“We know how important making memories at Disney theme parks is for our guests,” said Kim Prunty, a spokeswoman for the Burbank, California-based entertainment company. “We will continue to evolve our pricing in a way that gives them a range of options to meet their budget and helps better spread attendance throughout the year so they can make the most of every visit.”

Price increases that took effect Sunday varied by resort location, the number of days purchased, state residency and other factors. At California's Disneyland Resort, one-day admission during peak season increased by $11, or about 8.9 percent, to $135. At Walt Disney World in Florida, a one-day ticket to the Magic Kingdom park during peak season increased by $5, or 4 percent, to $129.

Details on the fixed-date tickets designed to control attendance will be released in advance of next year's opening of Star Wars Lands. Disney shares rose as much as 1.8 percent to $104.99 in early New York trading.

--With assistance from Christopher Palmeri

To contact the reporter on this story: Lizette Chapman in San Francisco at lchapman19@bloomberg.net.

To contact the editors responsible for this story: Crayton Harrison at tharrison5@bloomberg.net, Jessica Brice, Jonathan Roeder

©2018 Bloomberg L.P.