Disney CFO says theme park business improving...slightly

Leah Zanolla | Posted: Dec 9, 2008 | Updated: Oct 19, 2014 - 9:25:27 AM

It appears as though Disney's recent "7 days for the price of 4" promotion released last month has had at least some positive impact on the company's bottom line.

According to Disney CFO Tom Skaggs hotel bookings are now down about 6% - a slight improvement over initial forecasts that showed a 10% drop in hotel occupancy for Disney's first and second quarters.

Disney released an unusually aggressive discount package in November that offered guests traveling between January and June of 2009 seven nights at a Disney resort for the price of 4.

The news was little comfort to investors as Skaggs also reported that he expected this downturn in business to continue for the foreseeable future. Skaggs was quoted as telling reporters "We are operating as if we are going to see this condition for some time. I'm not going to make any predictions but it doesn't seem like it's (going to improve) tomorrow"