US Markets
Wednesday, October 4th, 2023 4:23 pm EDT
Key Points
- Disney is offering limited-time discounts on children’s tickets at its domestic theme parks, Disneyland and Disney World. These discounts aim to make family visits more affordable, with tickets at Disneyland available for as low as $50 each for children aged three to nine, valid between January 8 and March 10 of the following year. At Disney World in Orlando, Florida, children’s tickets and dining plans will be half-off for guests purchasing a four-day, four-night vacation package starting on November 14, with usability from March 3 through June 30, 2024.
- The price cuts come in response to a slowdown in attendance and hotel room occupancy at Disney’s U.S.-based parks due to rising costs and inflation. Other theme park operators like Universal, Six Flags, and SeaWorld have also reported decreased attendance this year, with factors such as higher ticket prices and increased trips to Europe contributing to the decline.
- Disney’s parks, experiences, and products division, which runs its theme parks, remains a strong revenue source for the company, with a 13% increase in revenue during the third quarter, reaching $8.3 billion. Disney plans to nearly double its investment in this division, allocating around $60 billion over the next decade for various projects, including the redesign of Splash Mountain, capacity expansion for its cruise line, and the exploration of new themed areas within its parks.
The Walt Disney Company is introducing new limited-time discounts for children’s tickets at its Disneyland and Disney World theme parks. Starting on October 24, parents can purchase children’s tickets for the Disneyland resort in California for as low as $50 each, valid for kids aged three to nine, with usability between January 8 and March 10 of the following year. Meanwhile, at Walt Disney World in Orlando, Florida, children’s tickets and dining plans will be half-off for guests who purchase a four-day, four-night vacation package at one of its resorts. This deal commences on November 14 and can be used from March 3 through June 30, 2024.
The move comes in response to a slowdown in attendance and hotel room occupancy at Disney’s U.S.-based parks due to rising costs and inflation. Other theme park operators like Universal, Six Flags, and SeaWorld have also reported lower attendance this year, with factors such as higher ticket prices and increased trips to Europe contributing to the decline.
Despite challenges in other segments, Disney’s parks, experiences, and products division has remained strong, with a 13% increase in revenue during the third quarter, reaching $8.3 billion. The company plans to nearly double its investment in its parks division, allocating around $60 billion over the next decade, including projects like redesigning Splash Mountain with a “Princess and the Frog” theme, expanding the cruise line, and exploring various new themed areas within its parks.
Disney’s willingness to offer discounts on children’s tickets is part of its strategy to attract more visitors and boost attendance at its domestic theme parks.
For full original article on CNBC, please click here: https://www.cnbc.com/2023/10/04/disney-discounting-child-tickets-at-domestic-parks-.html
