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Disney CEO Bob Iger recently gave an interview on CNBC’s Squawk Box. It was one of his more interesting interviews to date. From discussing selling parts of the company to being told he’s going to die soon and even admitting to a favorite Park, much was said. Being the Disney Park lovers we are, as we’re particularly interested in what he had to say about Disney’s theme parks. The biggest “bombshell” he dropped was expected but disappointing.
Credit: Disney
Theme Park tickets and resort hotel room pricing have always been a source of contention. My parents and I were recently discussing how much it costs to go to Disney World now, and I mentioned the summer trips we would take and stay at Disney’s Contemporary Resort. My jaw dropped when they said they paid $100/night. I giggled when they said, “And we thought that was outrageous!” in the late 80s and early 90s, it was, but what would we give for those prices today? They also told me a four-day park hopper cost them $76. “per day?” I asked. When they responded “total,” I had to clutch my chest in fear that this was “this big one.”
Credit: Disney
Our lamenting costs is not new, and it isn’t likely to change. You know what they say, “There’s nothing certain in this world but death, taxes, and rising Disney prices,” …or something like that. Every trip feels like we are being extorted and we look back fondly at last trips and what they cost, forgetting that we thought those were ridiculously expensive too. This is a drama that has played out again and again in our home and judging by Iger’s recent comments, will continue to do so.
During the interview, Mr. Iger was asked about the reportedly low crowd levels and if he felt pricing played a part. His response, “One of the things that we addressed as soon as I came back was whether our pricing was right or not and whether our pricing reflected value. I don’t know when the last time you visited Disney World [was]. I say it’s where the Disney brand lives in its most sublime form. I still believe that it’s an incredible experience. It’s a very, very popular business and product. Very successful and, you know, we’re not wringing our hands over it.” As a follow uo he was asked if he was concerned and Iger simply replied, “I’m not.”
This is in sharp contrast to comments he made last year when he said prices were too high and “killing the soul of the company.” These comments were made, however, when he first retook the helm at The Walt Disney Company and was trying to smooth the feathers that were ruffled during Bob Chapek’s tenure.
As much as we hoped Bob Iger would lower theme Park pricing, we didn’t really expect that he would. We can not think of a single time in the resort’s history that Disney has lowered pricing. In fact, Disney pricing has continuously outpaced inflation. Our best advice? Book those trips now, it will never again be cheaper than it is right now.
