Are Theme Parks Set for a Smooth Ride in 2Q17?
Comcast’s Theme Parks business
There is rising competition in the theme parks business to attract visitors through new attractions. Comcast (CMCSA) expects its Theme Parks segment to have strong growth in 2017. It expects 2017 to be a big year for its theme park in Orlando, Florida (SPY), as it is going to open a new water park and a new attraction later this year. According to Comcast, its hotels have an occupancy rate of around 90%.
In international markets, the company has invested selectively in its theme parks. The company plans to continue to invest in its theme parks and to consolidate Universal Studios Japan (EWJ). In 3Q15, Comcast acquired a 51% stake in Universal Studios Japan.
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Disney’s Parks & Resorts business
In fiscal 2Q17, The Walt Disney Company (DIS) expects its Parks & Resorts business to benefit from the shifting of the winter vacation schedule by one week. However, Disney expects the operating income for the segment to be impacted by ~$50 million.
Disney expects its Avatar Land theme park, its biggest recent theme park in Florida, to open later in 2017. The company indicated that this theme park has the potential to attract more visitors and increase its per capita guest spending.