Walt Disney 's (NYSE: DIS) top rival in the competitive Central Florida theme park battlefield firmed up its pricing last week. Comcast 's (NASDAQ: CMCSA) Universal Orlando increased prices for its annual passes. The move might not seem like much -- a mere 6% to 8% increase across its various forms of year-round admission -- but it's actually the second boost this year. Comcast joined Disney World and SeaWorld Entertainment (NYSE: SEAS) in raising ticket prices in February.
It's easy to see why prices are heading higher. Demand is strong, and consumers are willing to pay up for a day of escapism. It's also not shocking to see Universal Orlando picking up the cadence on its annual passes. High gas prices might eat into out-of-state visitors coming down to Florida this summer, but that demand destruction isn't going to hit the locals, who account for the lion's share of these yearlong admissions. Comcast knows what it's doing, and it's a move that will also benefit competing attractions.
Image source: Universal Orlando.
For further details see:
What's Good for Universal Orlando Is Even Better for Disney World and SeaWorld