Comcast promises one 'great attraction' a year at all Universal resorts
by Tom Anstey | 07 May 2015
Harry Potter Actors Tour The Wizarding World of Harry Potter - Diagon Alley at Universal Orlando Resort / Universal Orlando
Comcast is expanding on its theme park ambitions, with the company planning major investments across the board at all of its theme parks.
Comcast, which owns the four existing and four upcoming Universal theme parks across the world, said during an earnings call that its theme parks account for around 25 per cent of operating cash flow, predicting further growth in future.
“We will invest in a great attraction – about one a year at each of our resorts," said Stephen Burke, CEO of NBCUniversal (a division of Comcast), during the 4 May earnings call. "You'll also see a very significant hotel build-out in Orlando over the next five or so years," he added.
Universal’s recent Wizarding World of Harry Potter additions to its parks in Orlando and Osaka have resulted in huge upswings in attendance and revenue. Universal Orlando in particular drove impressive performances for Comcast, with the new Diagon Alley area helping to drive a 33.7 per cent year-over-year increase in Q1 theme park revenue. The park saw hugely impressive numbers also in operating cash flow, which increased 54.6 per cent to US$263m (€236m, £173.7m).
The promise of a ride on the Hogwarts Express also helped matters, with Comcast reporting that nearly 80 per cent of visitors to Universal’s Orlando parks opted for a two-park ticket to both Universal Studios and the nearby Islands of Adventure.
At the moment, Universal is building a King Kong attraction at Islands of Adventure, with further investment planned for a new waterpark. Work is underway on Sapphire Falls, a luxury 4,200 bedroom resort. According to recently submitted documents, Universal is also looking at a 400-bedroom and an 800-bedroom hotel.
"When [Comcast] first showed up in 2011, theme parks were something that came with the rest of the company," said Burke. "Now they're right at the core of what we're all about and, we think, provide a tremendous growth opportunity."
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Comcast is expanding on its theme park ambitions, with the company planning major investments across the board at all of its theme parks. Comcast, which owns the four existing and four upcoming Universal theme parks across the world, said during an earnings call that its theme parks account for around 25 per cent of operating cash flow, predicting further growth in future. “We will invest in a great attraction –
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