I'm not sure what statistics you're referencing, but if hotel attendance was down I highly doubt they'd be pushing DVC construction so heavily. In fact, hotels are one of the only things Disney does right nowadays. As far as their theme park attendance compared to Disney, I absolutely agree with you that Universal's strategy is solid and it will take people away....but it's physically impossible for Universal to beat the much-larger Disney parks in attendance. Even if they all held the same amount of people, I think it'll take a lottttt longer for Universal to surpass MK and Epcot than you're implying, unless you think it's honestly going to take Disney a couple decades to wake up. The way I see it, even Disneyland hit a slump. Bad management comes and goes, and I'm sure that Disney will get the kick in the pants they need before the entire Orlando tourism market shifts.