posted by orlandovacationhome on Aug 1
The Miami Herald reports in the August 1st, 2009 edition that Walt Disney World has now implemented increased ticket prices at its area theme park attractions despite a catastrophic economic recession and what some could describe locally in Orlando as an economic depression (i.e. a 10% drop in localized GDP).
The increased ticket prices will run around 3-5% for most attractions depending upon the length of the attraction pass. The one-day kids pass will increase an amazing 7.9%. A Disney spokesperson indicated that ticket prices still provide a great value to families and consumers.
Although many applaud and commend Disney for all of its local community activities and programs, such action in a crippled economic climate will be put into question. The blogs fervently lit up today in response. Many were hoping that the Disney Corporation could have used this as a real opportunity to silence the critics and even announce a price decrease. This would have been in sympathy with the pain being experienced by many consumers. Other local Orlando businesses who have the power to increase pricing 4-5% without significant consequences (outside of health-care) are some what limited.
Some critics may also conclude that this price increase is being implemented in response to the recent company wide Disney earnings release and its effect on Disney’s stock price.
Longer term, higher ticket prices could alienate some middle class families, both domestically and abroad. Middle class consumers are the largest consumers of theme parks in Orlando.
The annual ritual of announcing price increases at local Orlando parks has enabled some cynics to conclude that management may have become isolated from the plight of everyday folks and their struggles in light of the economic crisis; however the parks in turn argue they may need to take such action to optimize revenues and profits.
Many consumers are highly disappointed that Disney has responded in this manner to raise theme park prices at this critical time for many families.
Other parks in the area often follow Disney ticket price increases. It will be interesting to see how they respond given the worst economic climate since the great depression.
