Universal Orlando Resort Expansion (Part 1)

[korytowski8]

I thought it was suppose to be November 8th, does anyone know how it is done, such as a live auction like they do for houses?

 

[Disneyhead]

The sale date is Nov. 18th.

 

[ChrisFL]

Don't see a third gate happening. When was the last new park built in America? Hard Rock...failure. California Adventure...failure. IOA...kind of a failure to be honest. Overseas is where the money is for new parks, but I think the US is pretty saturated. Its not like I dont have faith in Universal to put out a stellar product, I just don't think ANY company can pull off a big new park nowadays.

Hard Rock park was a failure because of its location....it should have been built in Las Vegas.

California Adventure sucked when it first opened. IOA was not a failure, but not as popular as it could have been, but was severely let down by the useless "Universal Escape" marketing campaign

 

[s8film40]

The big reason Universal needs a 3rd park is to compete with Disney on value. Most people plan the length of a trip based on the number of parks. For example someone going to WDW with four parks will plan at least four days or more. Universal only has two parks so most people won't plan for much more than two days. When you buy tickets the length you buy determines the price you pay per day. In most cases it is cheaper to go to Disney than Universal.

 

[Frank Drackman]

I imagine UNI could do well with a third theme park gate in Orlando. I feel it is really about keeping people on site for more days.

I think a lot of tourist use that flex Orlando ticket to visit UNI, Sea World, Bush Gardens Tampa and think with VB and another gate, UNI would be able to work at moving that business to them with the benefit of keeping them in one of their rooms.

Currently Orlando's tourism keeps rising, but that could change at anytime, but I also feel Comcast has been smart about diversifying away from their core business and they seem to see the value in investing their theme park division.

 

[anihilnation]

Universal and Seaworld have the flexticket though, so 2 Universal parks, SW, BGT and then the waterparks. Not sure if flex-ticket is popular though, it is also pricey I think, but then it is valid for 7 days, so if one goes to the parks every day it works out good I think.

 

[anihilnation]

Frank just beat me to mentioning the flex ticket

Another thing to consider: I-drive is becoming bigger as well.

 

[tielo]

Universal and Seaworld have the flexticket though, so 2 Universal parks, SW, BGT and then the waterparks. Not sure if flex-ticket is popular though, it is also pricey I think, but then it is valid for 7 days, so if one goes to the parks every day it works out good I think.

A lot of Europeans use it. It gives you 14 days for all the parks (incl Bush Gardens) for €327. It's for both Universal parks and city walk (free entrance), wet & wild, Sea World, Aquatica and Bush Gardens. That is less then 24 euro a day. Slap a 5 - 7 day Disney pass on it and your 3 week vacation is covered in Orlando.

 

[anihilnation]

14 days, wow ... that is definitely worth it then.

 

[martymcflyy85]

Is it confirmed that Universal is actually buying this land?

 

[s8film40]

Is it confirmed that Universal is actually buying this land?

No. If they were planning to attempt to buy it they probably wouldn't want to make it known though.

 

[fryoj]

The real question here, other than "does Comcast even want the land?" is "Whats it going to be worth to other developers?" Thats a huge piece of land and it is really a prime area. I have no idea what the Orlando property values are for this kind of thing, but is it even going to be feasible for Comcast to buy it if serious hotel/restaurant developers are after it?

 

[Nick]

The real question here, other than "does Comcast even want the land?" is "Whats it going to be worth to other developers?" Thats a huge piece of land and it is really a prime area. I have no idea what the Orlando property values are for this kind of thing, but is it even going to be feasible for Comcast to buy it if serious hotel/restaurant developers are after it?

With the amount of money Universal could make from a plot of land that large... absolutely.

It would have to be an astronomically high price for Comcast to say "that's too much", when they know the type of money they could pull out of it.

 

[Frank Drackman]

A lot of Europeans use it. It gives you 14 days for all the parks (incl Bush Gardens) for €327. It's for both Universal parks and city walk (free entrance), wet & wild, Sea World, Aquatica and Bush Gardens. That is less then 24 euro a day. Slap a 5 - 7 day Disney pass on it and your 3 week vacation is covered in Orlando.

14 days, wow ... that is definitely worth it then.

Yeah, I'm not sure how big of a seller the pass is, but when we visit the parks, we try to be social while waiting in the queues and I noticed a lot of Europeans told us they were on vacation packages that had them visiting UOR, SW, and BGT so I assumed travel companies would use the flex ticket to set packages like that up.

I admit that is a decent variety of gates and includes parks that feature animals (which I think adds a cost that UNI should avoid), but I think the right mix of resort choices, water parks, and theme parks could bite into that market by allowing folks to avoid a long bus ride, have easy travel to entertainment that includes night live.

 

[NJBrandon]

According to the Orlando Sentinel, California-based Colony Capital is the likely buyer:

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.

Universal Boulevard property will be developed, Colony confirms - Orlando Sentinel

 

[Disneyhead]

According to the Orlando Sentinel, California-based Colony Capital is the likely buyer:



Universal Boulevard property will be developed, Colony confirms - Orlando Sentinel

Residential on a former Superfund Site? Who thinks this is a good idea?

 

[quinnmac000]

D

According to the Orlando Sentinel, California-based Colony Capital is the likely buyer:



Universal Boulevard property will be developed, Colony confirms - Orlando Sentinel

too preemptive...business move to deter other buyers but remember Comcast has deep pockets.

 

[Disneyhead]

Just remember, this property is going up for auction. No one is out of the game until the gavel pounds. Universal won't announce their intentions because it would drive the price up.

 

[Teebin]

^ I was under the impression that a buyer could step in before the auction, pay a lot more than asking, and end the whole thing. Perhaps not. Question is, how high could it go? 500 million, 800?

 

[Nico]

Will the buyer be announced on the 18th, or will they keep it under the radar?