I agree with this. Merlin, as a Public Ltd Company, now, have (due to their own poor management), gotten themselves into a viscous cycle.
They can, either, invest heavily to try and regain guest attendance and improve face/satisfaction, yielding higher attendances in the future. This, on the other hand, would result in an unacceptable short term loss which wouldn't be accepted by the company's shareholders. Alternatively, and with their current approach: erode the core product and *attempt* to increase total spend per customer, which will result in customer dissatisfaction, and lower attendances.
It is also of my belief that Merlin's key figures: Nick Varney, Justin Platt and the new French CFO who I can't remember have presided over the utter deterioration of their parks and their current state. It is also worth noting that this management have put themselves in a situation where they actually have very little power if they want to keep their jobs.
My conclusion is two-fold: I can assure you if they increased operating costs and improved the core product in favour of increased profits, the shareholders would be ousting Nick at the next AGM. I can also conclude that the ultimate failings of this company in respect to their RTP division was the flotation of the business.
Anyone else agree?