The Walt Disney Company
Walt Disney Co. raised entry prices to its theme parks in California and Florida, effective Sunday. Reuters

The Walt Disney Company (NYSE:DIS) has announced that price hikes will take place at both its Disneyland (Anaheim, Calif.) and Disney World (Orlando, Fla.) locations, effective Sunday, June 9.

According to a statement released by the Burbank-based company, a single-day ticket to either Disneyland Park or Disney California Adventure Park in Anaheim for visitors 10 or older will now cost $92, up from $87 -- a jump of nearly 6 percent.

“Like any business, we evaluate and adjust our pricing based on a variety of factors,” Burbank-based Disney said in a statement. The price of a ticket for a child age 3 to 9 increased to $86 from $81. And the price of parking at the Anaheim property is now $16, an uptick of $1.

Concurrently, Disney World will see the price of a one-day adult pass increase by about $6 per person, bringing the entrance to $95 for one adult for the day. There is almost no discount for children, and only those under the age of 10 will be eligible for a $6 discount, bringing their entrance fee down to $89.

The Disneyland price hike will also apply to annual tickets as well. The Deluxe Annual Passport, which allows admission to both Anaheim parks 315 days of the year, now costs $499 -- up from $469. The Premium Annual Passport, which has no blackout dates, now costs $669, an increase of $20.

Disney announced in May that fiscal second-quarter profit rose 32 percent, beating analysts’ estimates as guests splurged at theme parks in California and Florida. Net income also grew to $1.51 billion, or 83 cents a share, from $1.14 billion, or 63 cents, a year earlier.

Disney is seemingly justified in its price hike as the company reported that new features at its park , such as the Cars Land attraction based on Pixar movies, delivered 73 percent higher profit for the division and the fastest revenue growth for the company at 14 percent. Higher attendance and guest spending, along with the addition of the Disney Fantasy cruise ship, spurred the gains, the company said.