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Universal considering rumoured Fantastic Worlds theme park in Orlando
POSTED 31 Jul 2018 . BY Tom Anstey
Another gate for Universal in Florida would turn Florida from a two or three-day destination to potentially a weeklong destination. We think that would be attractive
– Stephen Burke
Comcast executive vice president Stephen Burke has confirmed that Universal is looking at building a fourth gate in Orlando, with the theme park set to be the latest to join Florida's lucrative theme park sector.

Universal filed a patent in June for the name "Fantastic Worlds", leading many to speculate the filing to be the name of the operator's long-rumoured third theme park.

Joining Universal Studios Orlando, Islands of Adventure and Volcano Bay, a fourth Universal property would offer increased competition to Disney, which operates four theme parks, two waterparks and the Disney Springs retail complex in the Orlando area.

"In terms of a new gate in Florida we are looking at it," said Burke speaking during an earnings call. "We've filed a name registration, we have a lot of great intellectual properties and we love the theme park business, which is one of our best, most consistent businesses.

"Another gate for Universal in Florida would turn Florida from a two or three-day destination to potentially a weeklong destination. We think that would be attractive."

To support longer stays, Universal has significantly grown the hotel side of its business in Orlando, with the launch of its Aventura hotel on 16 August bringing its total rooms in Orlando up to 6,000 – two-and-a-half times more than just five years ago. Another hotel development from Universal is also scheduled to be completed by 2019.

Universal acquired land for the park development in April. Although the amount of money the land purchase cost was not been revealed, Former land owner Stan Thomas’ affiliate companies related to property wiped out US$144.7m (€117.3m, £101.5m) of debt from those ventures. In addition to a new theme park, the purchase would also open up the possibility for further new restaurants, retail and hotels from Universal.

The news comes alongside news of an earnings increase at Universal's theme parks, with a significant rise through the first half of the year, benefitted by new openings including the Night Parade in Japan, Kung Fu Panda in Hollywood and Fast & Furious: Supercharged in Orlando.

For the year to date, revenues were US$2.64bn (€2.25bn, £2bn) – an 8.6 per cent increase – while earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 12.3 per cent to US$1.06bn (€905m, £807m).

"We are excited about the new attractions that we opened at each of our theme parks during the quarter," said Comcast CEO, Brian Roberts. "Our successful results in the first half of 2018 underscore the strength we see across Comcast NBCUniversal."
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Jobs . News . Products . Magazine
NEWS
Universal considering rumoured Fantastic Worlds theme park in Orlando
POSTED 31 Jul 2018 . BY Tom Anstey
Another gate for Universal in Florida would turn Florida from a two or three-day destination to potentially a weeklong destination. We think that would be attractive
– Stephen Burke
Comcast executive vice president Stephen Burke has confirmed that Universal is looking at building a fourth gate in Orlando, with the theme park set to be the latest to join Florida's lucrative theme park sector.

Universal filed a patent in June for the name "Fantastic Worlds", leading many to speculate the filing to be the name of the operator's long-rumoured third theme park.

Joining Universal Studios Orlando, Islands of Adventure and Volcano Bay, a fourth Universal property would offer increased competition to Disney, which operates four theme parks, two waterparks and the Disney Springs retail complex in the Orlando area.

"In terms of a new gate in Florida we are looking at it," said Burke speaking during an earnings call. "We've filed a name registration, we have a lot of great intellectual properties and we love the theme park business, which is one of our best, most consistent businesses.

"Another gate for Universal in Florida would turn Florida from a two or three-day destination to potentially a weeklong destination. We think that would be attractive."

To support longer stays, Universal has significantly grown the hotel side of its business in Orlando, with the launch of its Aventura hotel on 16 August bringing its total rooms in Orlando up to 6,000 – two-and-a-half times more than just five years ago. Another hotel development from Universal is also scheduled to be completed by 2019.

Universal acquired land for the park development in April. Although the amount of money the land purchase cost was not been revealed, Former land owner Stan Thomas’ affiliate companies related to property wiped out US$144.7m (€117.3m, £101.5m) of debt from those ventures. In addition to a new theme park, the purchase would also open up the possibility for further new restaurants, retail and hotels from Universal.

The news comes alongside news of an earnings increase at Universal's theme parks, with a significant rise through the first half of the year, benefitted by new openings including the Night Parade in Japan, Kung Fu Panda in Hollywood and Fast & Furious: Supercharged in Orlando.

For the year to date, revenues were US$2.64bn (€2.25bn, £2bn) – an 8.6 per cent increase – while earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 12.3 per cent to US$1.06bn (€905m, £807m).

"We are excited about the new attractions that we opened at each of our theme parks during the quarter," said Comcast CEO, Brian Roberts. "Our successful results in the first half of 2018 underscore the strength we see across Comcast NBCUniversal."
MORE NEWS
US National Museum of Natural History’s Fossil Hall set for reopening
Kirk Johnson, museum director of the Smithsonian National Museum of Natural History in Washington DC, has announced its David H. Koch Hall of Fossils will reopen on 8 June 2019.
Kengo Kuma’s V&A Dundee: Drone footage shows finished building ahead of opening
The Kengo Kuma-designed V&A Museum of Design Dundee, Scotland’s first dedicated design museum, is set to open its doors in less than a month.
Cooper Robertson appoint new director of architecture
American architectural practice Cooper Robertson have made a swathe of in-house promotions, including the appointment of a new director of architecture.
Royal Society launches Places of Science small museums fund
The Royal Society has announced “Places of Science”, a new funding scheme for small museums in Britain.
+ More news   
LATEST JOBS
Estate Food and Beverage Manager
jdr Hospitality Recruitment
Salary: From £60,000 to £65,000 per annum plus package
Job location: Somerset, UK
Business Manager
National Heritage Centre
Salary: Up to £55,000 (depending on experience) + pension
Job location: Newmarket, UK
iFly Indoor Skydiving Instructor
The Bear Grylls Adventure
Salary: Competitive
Job location: Marston Green, Birmingham, UK
Head of PR
Thorpe Park Resort
Salary: Competitive
Job location: Chertsey, UK
VIP Sales and Operations Manager
Chessington World of Adventures
Salary: £25,000 plus additional sales
Job location: Chessington, UK
Conference and Events Coordinator
Chessington World of Adventures
Salary: Competitive
Job location: Chessington, UK
+ More jobs  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

ABOUT LEISURE MEDIA
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