Disney CEO Bob Chapek suggests price hikes are coming to the parks thanks to guest demand

Aug 11, 2022 in "The Walt Disney Company"

Posted: Thursday August 11, 2022 1:16pm ET by WDWMAGIC Staff

Speaking to CNBC earlier today, Disney CEO Bob Chapek has indicated that price increases are likely coming to the theme parks, and it is all because of guest demand.

Chapek said, "We read demand. We have no plans right now in terms of what we’re going to do, but we operate with a surgical knife here,” Chapek said. “It’s all up to the consumer. If consumer demand keeps up, we’ll act accordingly. If we see a softening, which we don’t think we’re going to see, then we can act accordingly as well."

Disney released its third quarter financial results yesterday, beatings analyst expectations, driven by the performance at the theme parks and the success of Disney+. Walt Disney World and Disneyland Resort attendance is now very close to 2019 levels, and spending per capita is up 40%. Occupancy at the domestic hotels in the third quarter was 90%, and future bookings are in line with pre-pandemic levels.

You can hear more from a newly-bearded Bob Chapek in his interview at CNBC.

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LilofanSep 08, 2022

Former CEO Iger publicly expressed his condolences online regarding Queen Elizabeth. Chapek?

RSoxNo1Sep 08, 2022

Disneyland’s monte cristo at cafe Orleans is only two pieces as opposed to the 4 that it used to be.

SirwalterraleighSep 07, 2022

Snow White and her merry band of mental dwarves?? They’re not “to blame” either

HauntedPirateSep 07, 2022

*Hint - The CEO doesn't approve his contract, some other entity does*

SirwalterraleighSep 07, 2022

So who’s to blame? And are you serious about the “more than base salary” thing? None of these vultures are “paid” anything…because they cheat Uncle Sam with the nonsense “laws” passed for the last 40 years.

LilofanSep 07, 2022

Yes it is. Hitting or exceeding performance targets racks in the year end bonus. At times it’s more than an annual base salary.

SirwalterraleighSep 07, 2022

Yeah…hard rock would be my first choice next…but it depends on the prices. I had a $171 rate at portofino (tax included)…and I pooched that

LilofanSep 07, 2022

Hard Rock is the place to stay. We loved it there years ago and the piped in music swimming underwater was cool!

SirwalterraleighSep 07, 2022

Profits = “satisfaction” Welcome to Wall Street. You know who is responsible?

SirwalterraleighSep 07, 2022

We stayed at cabana bay and Royal pacific a couple of years ago (as the plague spread…we came home with it before there was even a name (in the US) or test)… And I really liked both. Had to cancel one to portofino last summer but looking good go back sooner than later

Mr MindcrimeSep 07, 2022

I'd think that with the bottom line being what it is, the Board interprets guest satisfaction as being pretty high :cool:

matt9112Sep 07, 2022

Don’t worry less I win the lottery those days are over. Found a few good hotels off site and obviously I still pay universal. I’m really excited to try there premier level or whatever they call there deluxe in December. I also stand by even at newer higher prices cabana bay is best normal hotel either disney or universal has. It’s amazingly well done.

MickeyLuv'rSep 07, 2022

Some might say you're just coming off as obnoxious. But you do you. ;)

SirwalterraleighSep 07, 2022

Moderates are by far the least bang for your buck at wdw… Right, @kong1802 ?? …but they didn’t charge $185 for pop century back in the day either