Costco is raising membership fees for the first time in 7 years

While Costco’s $1.50 hotdog price is staying put for now, the same can’t be said for its membership fees.

Starting Sept. 1, “Gold Star” membership in the U.S. and Canada will cost $65, up from $60. “Executive Memberships” will go from $120 to $130, with the membership’s maximum annual 2% reward increasing from $1,000 to $1,250.

It’s the first time Costco has announced a price hike since 2017.

Costco says the fee increase will impact about 52 million memberships, a little over half of which are executive memberships. The retailer operates 882 warehouses, 609 of which are in the U.S. and Puerto Rico.

Membership fees are a major source of revenue for Costco, generating $1.12 billion in the most recent quarter. Costco on Wednesday also reported net sales of $24.5 billion for the five weeks ending July 7, up 7.4% from the year prior.

Costco Chief Financial Officer Gary Millerchip hinted at an upcoming fee hike during a May earnings call, noting that the members-only warehouse retailer raises its membership “every five years or so” and that it’s a matter of “when we increase the fee, rather than if we increase the fee.”