But according to Disney's public filings with the SEC that are independing audited, they are showing increased attendance for 2010 and 2011 in their domestic parks (i.e. WDW and DLR combined).
As far as i know, TEA is simply estimating and has no access to the actual numbers.
But even if TEA is right, Disney's per guest spending is increasing not only at the parks, but at the hotels too. Plus, they have higher occupancy rates with higher per night spending at the hotels. So even with "free" dining, overall spending per guest is higher. I'd say that the various discount and dining promotions have been successful from a financial perspective only.
That said, as a guest, I hate the free dining promotions and what they've done to food quality. We avoid buffets anymore as they are too high priced and yes, I agree that the quality seems to be suffering. We also limit our Table Service to lunch. We have had great luck at finding some good counter service restaurants that are "reasonably" priced for a vacation destination. Overall, the prices have caused us to change our behavior a little.
With respect to shareholder say. Yes, shareholders do have a say, but to be effective you have to own a lot of stock or be a very vocal shareholder activist. I was being a little "tongue in cheek" when I inferred that a single shareholder has much of a say, but as a group, yes they do have a say on pay. Just read the proxy statement. There are plenty of shareholder activists out there and independent advisors (Glass Lewis and ISS) that recommend to shareholders how to vote. Many institutional holders vote based on these reports. I haven't read the Glass Lewis and ISS reports for Disney, but I'd be curious to know if they recommended any changes to the board composition or executive pay.
Yup, I saw the inaccuracies too, as this is the first time I actually closely analyzed the numbers (both TEA and Shareholder's Report) together. There is confusion there, so I can't continue the discussion, as we really don't have the proper info to do proper comparisons for determining if Disney is going downhill, IMHO.
And it all thanks to deep discounts. Take them away and what you will get. Truth is numbers were down few years ago and this is when they started all the crazy promotions and it works BUT now people are used to idea of discounts and many will not go with current regular prices or go but stay offsite. Promotions was a temporary remedy but it one of those remedies that makes things only worse.
How do you truly know that people still won't come? That is a prevalent theme on this thread, because that is how many of you feel, but as I've stated, I've met many people who pay rack rates or are just fine with a small discount.
Again, none of us have the true numbers. Obviously, Disney knows that discounts have worked, and that is why they are reluctant to cease offering them at this time, but we none of us really know just how the numbers would shake up, since most of WDW's guests are first/only timers who have no problem packaging up a dream trip to Disney. I've met many of these people - none of them knew about the DIS or looked out for discounts, so, I know there are still lots of people who would come to WDW, but I don't know an exact number; therefore, I'm not qualified to make a statement that people will stop coming or will only stay off-site.
As I've said many times, I go during peak seasons, when there are virtually no discounts, or, they are very minimal, and resorts are full, parks are jammed, registers are ringing and restaurants are crowded beyond belief. Based on what I see and experience at the parks during these times, WDW is busy!
This should help explain the change in attendance reporting:
http://www.ocregister.com/news/attendance-279102-disney-parks.html
HP is killing them in WDW.
Thanks for the link. That being said, how do we know Universal is accurately reporting their numbers?
If the their numbers are true, then HP is doing very well, as it should. If I had spent millions upon millions to make an attraction of that calibre, I would absolutely expect it to do well.
It's interesting as I've analyzed the numbers, and found discrepancies, which is why I won't discuss attendance figures any further, as I don't feel I have the correct info. We can postulate about numbers, but without hard evidence, it's all pretty much opinion.
And to be honest, I'm not sure even if Disney gave actual numbers, it would make any difference for some on this thread? There are some very passionate people here who truly believe that Disney is going downhill and in a real heap of trouble. This is their opinion, and so I'm not really sure what actual numbers would do? I've seen people presented with evidence, who still feel the opposite way, despite evidence to the contrary. My point is that Disney is a very personal place for so many of us, and with that, comes a multitude of feelings and opinions about that place.
For me, based on my vast experience in travelling to the parks very often over the past 10+ years, I see declines in certain areas, but then see upswings in other areas. I would never say that Disney is in a state of decline that is non-repairable, as I don't have the numbers nor the experiences to back that up.
Life is so much about perception, and so that is why I think this discussion still continues. It's interesting to read people's varying opinions about the same place, and that is why I continue to come here!
Tiger