They are testing the waters to see what kind of response they get with discounts that are not as attractive as this time last year. If they do not get sufficient bookings, we'll see a better deal, probably in January. The fact that the passholder discount is 42% speaks volumes to me as to how bookings are really going (not well). There was a time before the Sept. 2008 market crash that passholder discounts were few and far between. Many of us AP holders were wondering what was the point in keeping it.
Now, the strategy seems to be to cut the discount to the general public, but try to make up for it with bookings from AP holders. I guess we'll see how this plays out.
Last year, they offered a great public code discount over spring break for students in the Northeast. But, that offer came later, after they assessed bookings. As I recall, it came sometime in February. This time, the code discounts and AP discounts end on the first day of spring break. It will be interesting to see if rack rate holds for that week (especially since they have pushed rack rates into the stratosphere). My prediction is that it won't.
We'll see.