Gary Kaltbaum and Geltrude of Kaltbaum Capital Management and Dan Geltrude, the company’s founder, discuss the rise in ticket prices at Disney World and consumer spending habits amid inflation.
Avid Walt Disney World fans are rejoicing after their favorite theme park announced it will be changing its park reservation requirements for annual pass holders.
“As we step into this bright future, it’s important that we continue to evolve to provide the best possible guest experience,” Parks and Resorts Chairman Josh D’Amaro wrote in a letter. “As many of you know, I’m at the parks quite often, and I listen to you and our guests about what’s working and what needs to change.”
Entrance to Walt Disney World. (Paul Hennessy/SOPA Images/LightRocket via Getty Images)/Getty Images)
Crowds fill Main Street USA in front of Cinderella Castle in the Magic Kingdom for the 50th Anniversary of Walt Disney World in Lake Buena Vista, Florida. (Joe Burbank/Orlando Sentinel via AP/Associated Press)
According to the new rules, annual ticket holders can go to the amusement parks from Monday to Friday from 2 p.m. without a reservation.
On weekends, pass holders still need to plan ahead and secure a reservation for one of four magical parks – Disney World’s most popular park, the Magic Kingdom.
When the COVID-19 pandemic hit, Disney made sweeping changes, including the park reservation system. Under the system, ticket holders and annual pass holders must book a date and park-specific reservation for entry into any of the parks.
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Two years later, annual pass holders were unhappy with the company, which still required reservations to enjoy their expensive annual passes.
Disney World annual passes come in a range of pricing options, with the cheapest costing around $400 per year. The most expensive annual pass costs $900 per year. Florida residents receive a discount on these rates.
Blackout dates will still apply based on the tier of the program guests have selected.
Disney Dreamer Rose “Rosie” Warfield watches during the Disney Dreamers Academy at Walt Disney World Resort on March 05, 2022 in Lake Buena Vista, Florida. (Al Bello/Getty Images for Disney Dreamers Academy/Getty Images)
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D’Amaro’s letter also highlighted other upcoming changes to the theme parks.
In 2018, Disney introduced a money-making scheme that required overnight guests at the resort to pay for parking. On Tuesday, D’Amaro said guests staying at Disney World hotels will once again be able to take advantage of free parking.
In addition, Disney will add free digital downloads of attraction photos to guests who have purchased the Genie+ service.
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These updates to park operations come less than two months after CEO Bob Iger returned to the helm of the company and promised a two-year tenure that would spur renewed growth. However, the parades in the parks are said to have nothing to do with Iger’s return.