Matt Krantz / USAToday
Disneyland announced big increases to its ticket prices Sunday night, the latest evidence the massive upgrades made to the parks during the recession are paying off.
The price of the popular 'One Day Parkhopper' tickets, which allow visitors to enter both Disneyland and Disney California Adventure parks in California, rose 9.5% to $150, says Disneyland blog MiceChat.com. Meanwhile, the price to visit just one park rose 4.3% to $96. Disneyland's Suzi Brown confirmed the price increase to USA TODAY.
But perhaps the biggest shock to residents of the Southern California area is Disney saying 'Let It Go' to sales of new annual passes for locals. Sales of tickets are suspended unless consumers already have one.
These tickets became so popular with Southern Californians that the parks were getting stuffed with local residents on Sunday. The demand for the passes was robust despite big increases in the prices: Disney even offers a payment plan for these season tickets.
Yes, some people have a Disneyland payment.
While annual passes are no longer being sold to new customers, consumers who already have them can renew at the increased prices.
The price hike at Disney's California resorts comes months after similar increases at the company's parks in Orlando, Fl. Disney's Magic Kingdom boosted prices for the second time in eight months this past February. The price for a single-day admission to the park was increased 4% to $99 for adults and kids aged 10 and higher.
And Disney's stock has been magical for investors, too. Shares of Disney are up 94% over the past three years, blowing away the 40% gain by the Standard & Poor's 500. Over the past three years, Disney has boosted its net income by an average annual rate of 16.6%, says S&P Capital IQ.