Full price is $159, which is a fair comparison given Village's local's lite pass is $189.
Retaining an existing passholder is far cheaper than attracting a new one. There's plenty of people who alternate properties - one year at dreamworld and one year at village. Offering a renewal with a 37% discount makes it a deal you can't refuse and locks them into another year at Dreamworld instead of forking out almost twice the price for a village pass. I don't know if $129 would be enough of a difference to sway people from 'trying the other side of the highway' if they haven't been in a while, but $99 sure is. Dreamworld needs to hang on to every passholder they have right now - retention is super important.
They'll up their prices more in time, but there's still recovery time to go. 2016-2019 wasn't really recovery time because of the inept folk running the show who tried to build crocodile rivers and ampitheatres, and resurrect eureka mountain. Then we had Covid - every corporation's excuse for poor performance. Steel taipan should have been built near the start of 2020 and it didn't open until December 2021. I'd say 2021-2022 FY would be their first 'year of recovery' where they actually had good direction and backing. By that metric we're approaching four years in - and if I recall, everyone believed it should have taken 4. (and don't forget all the other good rides they lost along the way - through poor maintenance and management).
So - while i'm not giving them a pass on those earlier years - i'm conscious that - because of prior mismanagement - they're not '8 years in' - they're only 4 - now is the point they should have been at in 2020. I suspect we'll continue to see modest lifts in the pricing, but they're still the 'underdog' so they'll still need to price themselves under village, not because village is better, but to win the 'cheaper' argument and maintain retention.