By Devan Burris
The Walt Disney Company and Universal, two of the biggest names in theme parks, are both undertaking historic expansions to their experiences businesses.
Universal Orlando Resort in May opened the gates to Epic Universe, its fourth theme park at its flagship resort. Epic cost an estimated $7 billion to build, according to numbers provided by the University of Central Florida. Brian Roberts, Chairman and CEO of Universal parent company Comcast, called it the “single-largest investment Comcast NBCUniversal has made in its theme park business”.
“It’s so different than anything else that we’ve ever built, but certainly I think it’s different than anything anyone’s ever built,” said Karen Irwin, Universal Orlando President and COO.
Epic’s opening coincides with an expansion of Universal Orlando’s resort portfolio, adding three Loews hotels to bring its total to 11 operated on the property. Universal is betting that the addition of Epic will turn the resort into a full-week destination, a distinction that is normally reserved for its crosstown neighbor, Walt Disney World.
Not to be upstaged, Disney is working on a historic undertaking of its own.
In 2023, Disney announced plans to invest $60 billion in its experiences segment, which includes theme parks, cruise ships and consumer products. Of that investment, $30 billion will go to its domestic theme parks, Disney World and Disneyland.
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This article originally appeared here and was republished with permission.
