Disney is increasing prices at its theme parks in preparation for a significant long-term expansion of its parks and resorts portfolio.

These rate adjustments follow an announcement by CEO Bob Iger and Parks Experiences and Products chief Josh D’Amaro regarding a $60 billion investment plan over the next decade, which was presented to Wall Street analysts in Orlando, FL. The strategy focuses on “stories, scale, and fans.”

In Orlando’s Disney World, annual pass prices are rising by nearly 10% to $1,449, and parking at the theme park is increasing by $5 to a total of $30. However, parking remains complimentary for hotel guests.

At Disneyland, the highest-priced daily pass is increasing by almost 9% to $194, and the various tiers of Magic Key passes will see increases ranging from 3.1% to 21.5%, as will Genie+ add-ons. Parking for cars and motorcycles at the California park will also see a $5 increase to $35.

A company spokesperson stated to Deadline, “We are constantly adding new, innovative attractions and entertainment to our parks and, with our broad array of pricing options, the value of a theme park visit is reflected in the unique experiences that only Disney can offer,”

Date-based day passes for the parks will maintain their current pricing structure, with rates varying based on the level of activity on a given day. These basic tickets are priced at $104 for Disneyland and $109 for Disney World, similar to pre-Covid pricing.

These price adjustments coincide with the introduction of new promotions and options, including limited-time discounts and the return of all-day “park hopper” access starting on January 9. Disneyland is also adding two rides to the Disney Genie+ bundle: Mickey & Minnie’s Runaway Railway, available now, and The Little Mermaid – Ariel’s Undersea Adventure, which will be available next month. Additionally, the park’s reservation calendar booking window has been extended to 120 days.