Listen to this article now
Families have still planned trips despite the Disney theme parks’ rising costs. They merely charge their credit card for it.
According to a recent poll by the website LendingTree.com, 18% of people who visited the Florida or California theme parks did so in order to see Mickey and the crew.
More than 1,500 people participated in the poll, which revealed that 74% of the 87% of Americans who have visited a theme park have done so at a location run by Disney.
According to the report, 80% of people who borrowed money to pay for a flight to a Disney park want to pay it off in six months or less.
The families who incurred debt claimed they had not budgeted for the prohibitive price of entrance as well as for food and drink. According to the survey, 56% of respondents were taken aback by the cost of food and beverages, while 48% stated the cost of tickets exceeded their expectations.
But 71% of respondents told LendingTree.com they don’t regret going.
A trip to a Disney theme park, which was once well within the capabilities of a typical middle class family of four, has recently turned into a luxury good.
On December 8, The Mouse House raised the cost of admission to Disney World in Orlando. The highest priced ticket, which previously cost $159 each, was increased to $189.
Disney increased the cost of both Disneyland tickets and its Genie Plus line-skipping option earlier this year.
According to a recent study, a family of four might spend up to $1,100 on a day trip to Disneyland over the holiday season, and that’s before paying for food or gifts.
In order to park a car at the Disneyland Resort, receive the “Genie+” skip-the-line pass, and get a “park-hopping” ticket that would let them freely roam between Disneyland Park and Disney California Adventure Park, the family of four would pay $1,086 each day.
Depending on the date the family comes, a ticket for anyone over the age of 10 might cost up to $269 per ticket. Weekends and holidays, which are periods of high demand, typically have higher prices.
Each ticket for a youngster between the ages of 3 and 9 costs $259 and includes both the “Genie+” quick pass and the “park hopper” option. The family would have to pay an additional $30 for the parking certificate.
A key point of friction between recently reinstated Disney CEO Robert Iger and his hand-picked successor, Bob Chapek, was reportedly the rising cost of tickets.
Iger, who unexpectedly took over as CEO of Disney last month, said that theme park costs had gotten too high and that Chapek, who succeeded Iger just before the coronavirus outbreak began, was “destroying the essence of the firm.”
Chapek increased theme park admission fees to make up for the losses the Mouse House suffered as a result of the coronavirus outbreak.
The demand for admission to Disney theme parks remained strong this year despite the expensive costs.
The parks division’s revenue increased 73% over the previous fiscal year, according to Disney’s most recent earnings report. For the most recent quarter, Disney parks recorded total revenue of $28.7 billion.
However, the increase in ticket sales was unable to stop Disney stock from falling more than 45% since the beginning of the year, which fueled senior management’s unhappiness with Chapek.
What do you think of that Disney holiday’s trip debts surge? Please let us know in the comments.