Families Skip Magic Kingdom Trips Thanks to Bidenflation

Soaring prices are keeping ordinary American families away from Disney World and Disneyland — the result of  runaway Bidenflation plus Disney’s penchant for finding new and creative ways to gouge consumers at every turn.

Now, a prominent Disney executive has acknowledged, albeit glancingly, that high prices are a problem for the company as it faces its worst financial crisis in decades.

Disney’s head of theme parks Josh D’Amaro described pricing as a balancing act that still needs adjustment in an interview with the travel site The Points Guy.

“I’ll repeat the same thing I said before: We don’t always get it right,” he said.

“This is a place for everyone,” D’Amaro says. “When you go walk around, you’ll see people from everywhere, from all walks of life.” https://t.co/nxzbYYURrD

— Claudia Amezcua (@ClaudiaAmezcua_) June 27, 2023

The cost of admission to a Disney park soared under former CEO Bob Chapek. The company also introduced Lightning Lanes and Genie+, which allows visitors to skip long lines and enjoy other perks — all at a hefty markup.

Disney began charging Walt Disney World Resort guests for parking, a massively unpopular decision that has been reversed under CEO Bob Iger.

Then there was the Star Wars-themed Galactic Starcruiser hotel and attraction in Orlando. The disastrous undertaking is closing after a year of operation after it failed to attract fans. The astronomical price tag may have had something to do with it — starting at $4,800 for two guests and $6,000 for a family of fours

Sticker shock has gotten so bad that some analysts have expressed concern for Disney’s parks division that was once a reliable cash cow.

As Breitbart News reported, analysts at KeyBanc lowered their rating on Disney to “Sector Weight” from “Overweight” and gave the stock a price target of $85.

Among their concerns was what they saw as weak theme park attendance, which makes Disney’s attendance projections seem out of reach.

“Disneyland growth due to its 100th anniversary celebration is more than offset by [Disney World’s] contraction from comparisons against its 50th anniversary celebration. We worry the ‘tough comps’ are not properly reflected in consensus,” the analysts’ report said.