UPDATE 1-Disney hikes prices at U.S. theme parks
* Price hikes about five times the rate of inflation
* One-day admission at Walt Disney World hits $95
June 3 (Reuters) - Walt Disney Co raised single-day admission prices as much as 6.7 percent over the weekend at its theme parks in Florida and California, hikes that are more than five times the rate of inflation.
Higher prices for Disney's theme parks have become an annual tradition. The theme parks and resorts unit provided 20 percent of the company's overall profits in the financial year that ended in September 2012, second only to the company's media unit that includes the behemoth sports channel ESPN.
As of Sunday, one-day entry to Disney's Magic Kingdom at the Walt Disney World resort in Orlando, Florida, costs $95 for a person age 10 or older, a 6.7 percent increase.
A single-day pass to one of two parks at Disneyland in Anaheim, California, rose 5.7 percent to $92. A park hopper ticket for entry to both California parks on the same day increased 9.6 percent to $137.
The Consumer Price Index, which measures a sample of goods and services Americans pay for, increased at a 1.1 percent pace for the 12 months that ended in April. A narrower measure of the cost of sporting events rose 1.6 percent.
Disney offers discount prices through multi-day tickets and other tailored offerings. Most patrons choose a multi-day ticket and don't pay the single-day rate, Disney spokesman Bryan Malenius said.
- Moscow fights back after sanctions; battle rages near Ukraine crash site |
- Carnage at U.N. school as Israel pounds Gaza Strip |
- U.S. economy back on track with strong second-quarter rebound |
- Argentina fails to reach debt agreement, default looms
- Obama to Republicans: ‘Stop just hatin’ all the time’