Disney revives hotel discount

Walt Disney Co. announced its first major hotel discounts in years Thursday to counter a "sobering" economic outlook for 2009, after reporting lower profit in its most recent quarter because of a decline in movie and theme-park earnings and losses from the bankruptcy of one of Wall Street's giant investment firms.Disney President and Chief Executive Officer Bob Iger said early hotel bookings for 2009 are down "considerably," though he also said "it's just too early to tell" whether that's more the result of people delaying their vacation plans or canceling them altogether."Our brand and the experiences we offer have never been stronger. But consumer confidence is the lowest we've seen in over three decades," Iger said, noting that retail spending is also down. "That could impact us possibly during the holiday season but almost certainly during 2009."Disney is bringing back a deal it last offered in 2003: For most of the first six months of next year, vacationers can get seven nights in Disney World hotels for the price of four. Those who book vacations for January, February or March will also get a voucher for $200 worth of food and souvenirs. For either deal, reservations must be made by Dec. 20.

more detail >>