Walt Disney Co DIS is launching a new pass designed to streamline ride access at its U.S. theme parks. The Lightning Lane Premier Pass will be available starting Oct. 23 at Disneyland and Oct. 30 at Disney World.
What Happened: The pass offers a one-time entry to each available Lightning Lane attraction without the need to select specific arrival times, providing visitors with greater flexibility. However, guests must still purchase separate admission tickets, reported the Associated Press on Thursday.
At Disneyland in Anaheim, California, the pass is priced at $400 per person per day for access to both Disneyland and Disney California Adventure, valid until the end of the year. In 2025, prices will adjust between $300 and $400 depending on demand and date.
In Orlando, Florida, Disney World guests staying at deluxe resorts and select hotels can buy the pass, with prices ranging from $129 to $449, peaking during high-demand periods. The pass allows access to one park per day, with no option for park hopping.
Guests can still utilize standby lines and virtual queues for certain attractions, ensuring a variety of park experiences.
Why It Matters: The introduction of the Lightning Lane Premier Pass comes at a time when Disney is facing financial challenges due to external factors such as Hurricane Milton. The storm is projected to cause a $150 million to $200 million impact on Walt Disney World’s Parks and experiences, with a predicted 6% drop in attendance growth this quarter, according to Goldman Sachs.
Additionally, a survey by LendingTree revealed that approximately 24% of Disney visitors incur debt to finance their trips, with the figure rising to 39% among Gen Z and 45% among parents with children under 18.
Moreover, Disney recently reduced its workforce by 300 employees across various corporate departments as part of cost management efforts. This move highlights the company’s ongoing strategy to optimize resources and maintain its commitment to creativity and innovation.
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Image Via Pexels
This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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