Universal Orlando is continuing its rapid growth and expansion. Universal Orlando has purchased another 101 acres for its new theme park projects in Orlando.
Universal closed on the purchase for $27.5 million on Thursday, a spokesman for Universal confirmed. The new land encompassed Salt Lake Road, giving Universal a new major road for its expansion.
The newly purchased land is nearby $130 million purchase Universal made in December 2015, north of Universal Boulevard and west of Destination Parkway. With the latest acquisition this gives Universal 570 acres to play around with. Universal Orlando Resort currently boasts Universal Studios, Islands of Adventure, and Volcano Bay as their three theme parks. The resort also includes CityWalk, an entertainment district and several hotels on property.
Universal already has plans to tear down the Wet n’ Wild water park. Two large hotels will go into that space. Universal still has a lot of “catching up” to do when it comes to competing with the Mouse next door. Universal’s latest strategy is to get more people to stay at Universal Orlando hotels. That’s the reason for the rapid hotel growth of Cabana Bay, Sapphire Falls, and Aventura. Plus more hotels are on the way.
So what can possibly show up in this new expansion space. Universal does have the deal with gaming giant Nintendo. In 2015, executives told analysts that Universal would have a strong expansion plan with a new attraction opening every year.
As a fan of Universal I’m just excited to see them get more land. Universal has tons of hotels and more are coming. Fans are now getting eager for more of a theme park expansion. We can only hope that this deal signals that type of future for Universal Orlando Resorts.
Source: Orlando Sentinel
Zach Perilstein is the Editor-in-Chief at the Boardwalk Times.
