Is Disney's Latest Move Greedy or Brilliant?
There's rumbling in the belly of Walt Disney's (NYSE: DIS) original theme park. Disneyland stopped selling its Southern California Passport on Monday, a $469 annual pass for locals that offers access to the resort's two theme parks for roughly 215 days of the year. Saturdays, holidays, and a good chunk of the summer are off limits.
Temporarily suspending sales of a popular pass may seem like a lousy idea. Attendance was down across all six of Disney's domestic theme parks last year, according to industry tracker Themed Entertainment Association. Attendance has drifted marginally higher this year, but not enough to warrant nixing a pass that made Disneyland more accessible to Southern California residents.
Image source: Disney.
Source: Fool.com
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