Could Universal Orlando Be Adding a Fourth Theme Park?

Universal Orlando Resort may be adding a fourth major theme park, as it looks to become a destination where guests stay for longer periods of time.

During parent company Comcast’s second-quarter earnings call last week, an analyst inquired about a patent application filed last month for the name “Fantastic Worlds” for “entertainment services in the nature of amusement park and theme park services.”

“In terms of a new gate in Florida, we are looking at it,” NBCUniversal’s CEO Stephen Burke responded. “Another gate in Florida would have the advantage of turning Florida from a two- or three-day destination to potentially a week-long destination. We think that would be attractive.”

Universal has acquired hundreds of additional acres of land in recent months, signaling plans to build out. The expansion beyond its current theme parks – Islands of Adventure, Universal Studios Florida and Volcano Bay Water Park – as well as previously announced Nintendo Land indicates an effort to grow Universal Orlando into a destination similar to Walt Disney World, where guests plan vacations for longer periods of time.

To support longer stays, Universal Orlando has been rapidly growing its on-site hotel offerings. When the Aventura Hotel opens Aug. 16, it will bring Universal Orlando’s total rooms to over 6,000, about 2.5 times the number of rooms from five years ago, Comcast executives said Thursday. Another hotel complex is slated to open in 2019.

“We love the theme park business. It’s one of our best, most consistent businesses,” Burke noted.

Indeed, on the earnings call, it was revealed the theme parks generated about $1.36 billion in the second quarter, up nearly 4 percent from the same time in 2017. The division’s revenue is up about 9 percent in the first half of 2018 compared to 2017.