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Walt Disney World Resort and Disneyland Resort have long symbolized somewhat of an American dream – becoming successful enough to take your family on a memorable trip. But that dream is slipping further and further from reality for the average American family. The average cost of a Disney vacation has far outpaced inflation for decades, from the price of Park tickets and Resort hotels to unpopular add-ons like Disney Genie+ and Individual Lightning Lane replacing the free FastPass+ system.
Many Disney Parks fans hoped that would change when it was announced that former Disney CEO Bob Iger would return to the position, taking over for his hand-picked replacement, Bob Chapek. In the months since his return, Iger announced a complete restructuring of The Walt Disney Company, including thousands of layoffs to cut back-end costs. But will those savings pass on to consumers?
During Thursday’s Morgan Stanley Technology, Media, and Telecom Conference, Iger spoke about changes made by his predecessor, Bob Chapek. Though he praised the growth in profits at Disneyland Resort, Walt Disney World Resort, Disneyland Paris, and Shanghai Disney Resort, he emphasized that The Walt Disney Company may have gone too far in up-charging its Disney Park Guests.
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“I’ve always believed that Disney was a brand that needed to be accessible, and I think that in our zeal to grow profits, we may have been a little bit too aggressive about some of our pricing,” Iger said. “I think there’s a way to continue to grow that business but be smarter about how we price so that we maintain that brand value of accessibility.”
Iger then touted changes he made after taking over The Walt Disney Company, like the return of free Walt Disney World Resort hotel parking. Interestingly, Chairman of Disney Parks & Resorts Josh D’Amaro insisted those changes were entirely unrelated to Iger’s return.
“They resonated extremely well with consumers,” Iger explained. “We’re not only going to continue to listen to consumers, but we’re going to continue to adjust.”
Is the average Disney trip price too high for your family? Share your thoughts with Inside the Magic in the comments.