Chapek Defends Price Hikes in New Memoir

Former Disney CEO Bob Chapek is set to release his memoir, 'Behind the Castle Walls: My Thirty Years at the Happiest Place on Earth,' which provides insight into his time leading the company. In one chapter, he reflects on his strategies for raising prices at Disney theme parks and his views on Disney annual pass holders and adults.

Chapek notes that there was more demand than supply for the parks, and he aimed to shift attendance from established annual pass holders to higher-paying vacationers. He implemented price increases on passes, which initially reduced their number but ultimately increased revenue by 30% per pass.

Chapek defends his decision, stating that he wanted to protect the guest experience for all visitors, not just local pass holders. He also comments on Disney Adults, saying they are a key constituency and drive much of the park's magic.