Universal Orlando Resort Expansion (Part 1)

[GadgetGuru]

On the other hand, it was Disneyhead that recently enlightened us that Viacom was interested in this land for a theme park and now we hear the announcement about the UK Paramount theme park. (Paramount is owned by Viacom). I guess they are a somewhat serious contender.

Who will get it?

That's interesting. A lot of their IPs in the UK would be of great interest to Universal in the States (Star Trek, amongst others). If they are making a park in Orlando, not only will Universal have to fight for the land, but there might be less future IPs for them to work with to fill up a new park.

 

[Blue]

I don't think Paramount will end up getting the site.

 

[TJwny]

My guess is if Universal wants it bad enough they will get it, just a matter of how much it will cost them

 

[WAJAS]

Use this as you will.

 

[TJwny]

I just came across this, dated October 2015, is this the same property we have been speculating on Universal's interest in? Outdated?


Universal Blvd. property to be developed, Colony confirms

Paul BrinkmannOrlando Sentinel


A California real estate company that is poised to seize ownership of 450 acres near the Orange County Convention Center anticipates a range of possible developments for the area, including hotels or residential.

Santa Monica-based Colony Capital expects to be the owner after a foreclosure auction on Nov. 18. The company expects to begin offering the property for sale by January.

 

[Teebin]

^ Yes, but, this is the first I have heard or noticed Colony's involvement. Thanks for posting!

from the article:

"Colony foreclosed on the former owner, Stan Thomas of the Atlanta area. Colony will be in first position during the upcoming foreclosure auction because it owns $285 million in debt on the property."

It sounds like if someone else wants it, they are going to have to bid Colony into the ground. Anyone know what kind of liquid capital Colony has in its coffers?

 

[maxairmike]

Actually, it sounds like, while they expect to own it after the auction, they really want to sell the land after winning the auction (to recoup their ownership of the debt plus any profit), not be the group that does the actual development of the land.

 

[Teebin]

^ aaaah... perhaps I misread their statements about their apparent plans for development. Perhaps it was more a sales pitch.

I am on pins and needles. I hope we don't have to wait to long to find out who gets their hands on it.

 

[UK-Trigg]

^ aaaah... perhaps I misread their statements about their apparent plans for development. Perhaps it was more a sales pitch.

I am on pins and needles. I hope we don't have to wait to long to find out who gets their hands on it.

Me too, if Uni is indeed to bid for this property as expected they gonna have to dig real deep into their pockets. A lot riding on this as it could be a game changer if they get it.

 

[Teebin]

Parkscope just posted a link to this article on twitter... good stuff.

The Risks of Riding the Hollywood Theme Park Craze - Hollywood Reporter

The question I have is why would Warner Bros stay in bed with Universal when they are busy building parks themselves? Why would they serve up LOTRs to Universal if they got their hands on the rights? I don't get it.

 

[s8film40]

Parkscope just posted a link to this article on twitter... good stuff.

The Risks of Riding the Hollywood Theme Park Craze - Hollywood Reporter

The question I have is why would Warner Bros stay in bed with Universal when they are busy building parks themselves? Why would they serve up LOTRs to Universal if they got their hands on the rights? I don't get it.

I think it depends on the market. For example in the Central Florida market it's much smarter to have Universal who already has an established foothold in the market present your intellectual property rather than building something from scratch. In new or emerging markets it makes sense to start building on your own.

 

[IzzyB]

Parkscope just posted a link to this article on twitter... good stuff.

The Risks of Riding the Hollywood Theme Park Craze - Hollywood Reporter

The question I have is why would Warner Bros stay in bed with Universal when they are busy building parks themselves? Why would they serve up LOTRs to Universal if they got their hands on the rights? I don't get it.

The only thing I can think of is that they feel they can't break into the CA or FL markets. So they will let Uni have the rights in the US and they will have the international rights. But you could be right in that WB getting LOTR won't mean that Uni will build it.

 

[JungleSkip]

The question I have is why would Warner Bros stay in bed with Universal when they are busy building parks themselves? Why would they serve up LOTRs to Universal if they got their hands on the rights? I don't get it.

The same reason why Busch has Sesame Street in the US, and Universal has them in Japan. You sign deals to reach the maximum amount of the audience. If WB builds parks (I don't think they will), they're going to be in places that the US theme park audiences aren't going to go. Might as well get the money from those people too by building stuff in Orlando and Hollywood/

 

[UniversalCityFL]

Parkscope just posted a link to this article on twitter... good stuff.

The Risks of Riding the Hollywood Theme Park Craze - Hollywood Reporter

I love how the headline is about "The Risks" but the article hardly mentions any risks -- it just talks about how everything is generally great.

 

[JungleSkip]

I love how the headline is about "The Risks" but the article hardly mentions any risks -- it just talks about how everything is generally great.

I think it talks about the risks of new companies jumping in quite a bit. It's basically saying, "If you're not Universal or Disney, you're taking a huge gamble."

 

[Teebin]

I am surprised that so many, including Universal, have plans for parks in Russia. I would think that was a terrible gamble right now.

 

[JungleSkip]

I am surprised that so many, including Universal, have plans for parks in Russia. I would think that was a terrible gamble right now.

I'm pretty sure the Russia deal is more or less a licensing thing. I don't think Uni would have any real stake in that.

 

[Teebin]

I'm pretty sure the Russia deal is more or less a licensing thing. I don't think Uni would have any real stake in that.

Trust me, they have quite a stake in that they will be building the attractions. Perhaps you mean long term financial stake? They do expect to be paid year after year and assist in keeping the product running to a high rate of satisfaction. It seems dicey to me.

 

[JungleSkip]

Trust me, they have quite a stake in that they will be building the attractions. Perhaps you mean long term financial stake? They do expect to be paid year after year and assist in keeping the product running to a high rate of satisfaction. It seems dicey to me.

Right, I mean I don't think they're putting any money into it. Also, construction, last time I checked, has been halted on that for a good long while. I doubt it's even happening at this point.

 

[Teebin]

Right, I mean I don't think they're putting any money into it. Also, construction, last time I checked, has been halted on that for a good long while. I doubt it's even happening at this point.

It's still on as far as UC is concerned. Do you recall what the cause of the halt was?