How to take advantage of a downturn

Disney's net income is up 22% from a year ago on surpisingly strong demand for its theme parks and resorts. Two reasons for this:

• '75% of their hotel product is 'moderately priced' or 'value priced'. In contrast, during the 1991 downturn, over 55% of the rooms were considered 'premium priced'.

• the U.S. vacation industry is benefiting from a weak dollar. At Disney, the number of international visitors was up 25% from a year ago.