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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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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
IAAPA 2018: 11 pioneers Inducted into the IAAPA Hall of Fame
The International Association of Amusement Parks and and Attractions (IAAPA) has inducted 11 global attractions industry pioneers into its IAAPA Hall of Fame.
IAAPA 2018: David Rosenberg confirmed as chair for 2019
David Rosenberg will be the first representative of the zoo and aquarium sector to lead IAAPA, after he was confirmed as chair of the board for 2019.
Harris Museum and Art Gallery to undergo £10.7m transformation
The Harris Museum in Preston, England is to merge its museum, art gallery and library, creating an unsegregated space where visitors can "come on a journey of discovery throughout the building rather than being in the bitty pockets as they are at the moment", according to its deputy head of culture.
IAAPA 2018: Karen Staley joins the Triotech leadership team
Karen Staley has joined Triotech as regional VP of sales in the US.
+ More news   
LATEST JOBS
Area Commercial Manager
Continuum Attractions
Salary: Competitive Salary and Benefits
Job location: North of England and Scotland, UK
Director of Operations
Legoland
Salary: Competitive
Job location: California, USA
Global Marketing Executive
Merlin Entertainments Group
Salary: Competitive
Job location: London, UK
Food and Beverage Manager
NAMCO UK Ltd
Salary: Negotiable depending on experience
Job location: Manchester, UK
Digital Business Analyst
Merlin Entertainments Group
Salary: Competitive
Job location: London, UK
Commercial Manager Short Breaks
Merlin Entertainments Group
Salary: Competitive
Job location: Chessington, Surrey, 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
LEISURE MEDIA MAGAZINES
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LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
ATTRACTIONS MANAGEMENT NEWS
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