The Walt Disney Company And Universal, two of the biggest names in themed parks, both carry out historical extensions of their experiences.
Universal Orlando Resort in May opened the gates for the Epic Universe, its fourth theme park in his flagship resort. The construction of EP costs an estimated 7 billion US dollars, according to the figures provided by the University of Central Florida. Brian Roberts, chairman and CEO of the universal parent company Comcastcalled it the “largest investment that Comcast NBCuniversal made in his theme park”.
“It is so different from everything we have ever built, but I think it is different from everything someone has ever built,” said Karen Irwin, President and Coo of Universal Orlando.
The opening of EPIC coincides with an expansion of the Resort portfolio of Universal Orlando and adds three Loews hotels to be operated on the property to 11 on the property. Universal relies that the addition of epic will transform the resort into a comprehensive goal, an award that is usually reserved for the neighbor Crosstown, Walt Disney World.
In order not to be able, Disney works on its own historical undertaking.
In 2023, Disney announced plans to invest 60 billion US dollars in the segment of experiences, including themed parks, cruise ships and consumer goods. From this investment, 30 billion US dollars will pass into its domestic theme parks Disney World and Disneyland.
“We have a lion's share of this investment to us,” said Michael Hundgen, Creative producer of Portfolio Executive Creative Producer with Walt Disney Imagineering. “It's about finding what the best possible creative intention fulfills in the best possible way.”
These investments come at a time when both Disney and ComCast estimate or turn off their linear TV segments, an arena in which volatility has been found in recent years. For comparison: themed parks were consistently an income driver for the companies in tourism.
However, the time of these openings and extensions could prove difficult for both themed parks. The opening summer of Epic coincides with the fears of slowing down the trip due to economic volatility.
“If you are not sure how the economy will develop, you will try to be more careful in your editions,” said Jorge Ridderstate, Associate Professor at Rosen College of Hospitality Management from UCF.
Will these massive investments for Disney and Universal pay off? Or could a tourism desolation of Orlando's “epic” summer upset. Take a look at the video above to learn more.
Disclosure: ComCast has NBCUNIERSAL, the parent company of CNBC.
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