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."
