posted by orlandovacationhome on Oct 17
Universal Studios Orlando reported that their attendance was down 20% in the first quarter of 2009 according to the Orlando Sentinel (1).
The irony here is that a one day ticket price for the attraction is currently at an all time high.
Typically when most businesses face a downturn they often lower prices. This has not been the case with any of Orlando’s major theme parks for a one day pass. The theme parks have instead focused on extending length of stays and discounting for longer term packages. The laws of supply and demand either do not apply to major Orlando theme parks or are being ignored, as basic economics would say they need to lower prices.
The good news is that the Orlando vacation home market has slashed their prices in an attempt to attract vacationers out of the hotels and into more spacious and fully equipped vacation homes which typically run about the same price.
The closest vacation homes to Universal Studios area Vista Cay and the Isles at Cay Commons (these are both condominiums).
Vacation Homes Near Universal Studios
Tweet This Post
posted by orlandovacationhome on Nov 8
The third quarter earnings report for Disney was not pretty. In many investors’ eyes, it raised more questions than answers. Chief Mouse Executive Bob Iger reported that the first half of 2009 looks to be just shy of 10% under last year’s booking pace. He also alarmed analysts by stating that his predictive view of the attendance market is “limited”.
Disney responded by rolling out a new “buy 4 days/nights, get 3 free” promotion. This is strong evidence of the weakness coming into 2009, and the theme park market will need to perform some heavy discounting in the new year to stay on par with last year.
Disney Earnings Impact Orlando Vacation Villa Homes
Presumably area hotels must do the same to bring in their market share of tourist dollars. Vacation home rates will almost assuredly follow suit because staying in a home is an upgrade from the regular hotel stay, and that consumers may not be in the financial mood to take advantage of that upgraded experience. The dollar has also appreciated making foreign exchange rates less attractive for international travelers. Although air travel pricing has been sluggish to drop, gasoline pricing has been cooperative for the consumer lately. We suspect that regional drive-to traffic may need to replace lost international traffic in 2009 if Orlando vacation home rentals are to keep pace with last year’s figures. In that light, vacation home marketers must do a better job of highlighting the advantages of a vacation home over a hotel stay and then delivering on that Orlando vacation promise.
Tweet This Post