Eeyore2u- Good points
Happytrails2u- Further discounting is certainly one strategy Disney could take. But there are several important questions to ask before doing that.
Would reducing room rates by say 10%, generate enough increased reservations that Disney would make-up more than that 10%? Its true that these extra people would spend money elsewhere in the resort, but how much? They are only coming because they were able to get the discounted rate, so it would follow that they wouldn't spend as much as the already booked guests. (Plus, already booked guests did not receive the discount, creating more issues)
What is the long-term effect of heavy discounting? Let's say the economy is back in full gear by the end of the summer. When Disney tries to raise its rates back to normal, will everyone pay? Or will they wait for the discounted rate that they now know Disney will accept?
Its also important to note that, according to Disney, "per-guest" spending is down. That means they are already taking in less $$$ per guest, even without further discounting room rates.
Bottom line is that if the amount of $$$ taken in per guest decreases, Disney either has to spend less on each guest (cut services), or let profit margins shrink. Certainly some services have been cut, mainly EE. But most services remain intact.
I'm not saying Disney is definitely right, only that there is a valid reason they have chosen the path they have.
Of course, the question could be reversed when talking about
ticket prices. Sea World raised their prices back in January, Universal several weeks ago. So far, Disney has not. The current rumor is that they will on April 1st. But since most people know that when one of the Orlando big 3 raises prices they all do, it could be argued that Disney is doing their guests a service by waiting, and giving them the chance to purchase tickets at the current rates. Certainly this is a form of discounting that is designed to encourage attendance.