There are three things you can count on in life: taxes, death and Disney price hikes. It seems that higher costs could be coming to potential park guests soon. In an interview with CNBC CEO Bob Chapek brags about how sophisticated their pricing system is to ensure the highest profits for shareholders and allegedly value for guests. I think that would qualify as an oxymoron? He goes on to say that consumer demand will decide the pricing. As long as people are willing to pay the outrageous prices, the more we will see them increase.
Also, the Park Pass system is staying in place from now on. Technically if Disney wants to limit availability with that system and then charge more they can.
Here is his quote from the interview:
Well, we always watch our demand. When you’re playing a yield game like we are right now and you have the flexibility with our reservation system, we can move on a dime. We read demand. If demand goes up, we have the opportunity to do that. We have no plans to announce right now in terms of what we’re going to do, but again, we operate with a surgical knife here. We’re at a level of sophistication with our pricing that not only does it maximize shareholder value, but it enables us to provide a value to guests no matter what time of year they want to come. It’s all up to the consumer. If consumer demand keeps up, we’ll act accordingly. If we see a softening, which we don’t think we’re going to see, then we can act accordingly as well.
I’m sure he’s basing this on the increased per capita spending with guests, but they have made it so that you almost need to spend more to have an easier time in the park. The more people put up with it the more likely price increases will hit.
As he is saying this I have been seeing more and more guests say they are giving up on Disney parks. The cost, the upcharges, and the strict and convoluted process of tickets, park passes, Genie+, etc. are driving people away.
Park price increases are at the least an annual event, so it’s no surprise to hear they could go up again, but many believe a recession is coming and people are going to hit their financial ceilings and the limits to their patience with Disney. Then, maybe, they will start to “soften” on the pricing.
What do you think? Comment and let us know!
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