From iht.com:
Bookings at The Walt Disney Co.s domestic theme parks are not reflecting a broader economic downturn, the companys chief financial officer said Monday.
Travel bookings in the current quarter are up compared with the same period last year, Thomas Staggs told investors gathered at the Merrill Lynch Media and Entertainment conference.
“Im not saying the parks are immune to the economy,” Staggs said. “But thus far, were not seeing any impact in the numbers.”
International visits to the parks have still not recovered from the Sept. 11, 2001, terrorist attacks, Staggs said. Those visits might be expected to increase because of the weak dollar, but difficulties in gaining travel visas to the United States are still having a negative impact, Staggs said.
The company will likely increase capital spending to beef up its lagging second park in California, Staggs said.
Disneys California Adventure opened in 2001 next door to Disneyland and has been a disappointment to the company, which has steadily added attractions to the park. Disney is not likely to open any new parks in the United States in the foreseeable future, Staggs said.
