Universal's 4th Quarter Results In - 46% Increase - Bonus for Team Members

[Timmy Boy]

http://www.orlandosentinel.com/business/tourism/os-universal-orlando-earnings-20110121,0,3975950.story

Universal Orlando ended 2010 with its best fourth quarter on record and its highest annual attendance since 2004, thanks to the success of the Wizarding World of Harry Potter.

Attendance at the resort's two theme parks skyrocketed 46 percent during the final three months of the year, according to a report filed Friday with federal regulators. The combined fourth-quarter head count jumped from 2.3 million in 2009 to 3.3 million.

Universal disclosed its attendance results after its corporate parent, General Electric Co., announced that its entire theme-park business had a record year in 2010.

"We are pleased with our results and with the enthusiasm our guests continue to show for everything Universal Orlando Resort has to offer," Universal spokesman Tom Schroder said Friday. The resort will report more detailed results for 2010 in the coming weeks.

The big gain in year-end attendance capped a banner year for Universal Orlando, which on Thursday handed out bonus checks to thousands of employees to celebrate Wizarding World's success.

Since debuting June 18, the more-than-$200 million collection of rides, shops and eateries based on the wildly successful Harry Potter books and films has drawn enormous crowds to Universal and fueled massive souvenir sales — more than 1 million mugs of butterbeer alone. The themed area and its centerpiece ride, Harry Potter and the Forbidden Journey, have also won multiple industry awards.

Attendance at Universal Orlando for all of 2010 totaled approximately 11.2 million people, up 20 percent from 9.3 million the year before.

GE executives, in reporting year-end earnings for the Connecticut-based industrial conglomerate, said attendance and per-capita guest spending were both up double-digit percentages for Universal Parks & Resorts, which benefited from the opening of big-ticket capital projects last June at its two domestic resorts — Wizarding World in Orlando and a King Kong attraction in Universal Studios Hollywood.

The "parks continued their strong performance, driven by both Potter and King Kong," GE Vice Chairman Keith Sherin said during a conference call with analysts.

GE said its parks and film businesses, which together make up one of the main segments of the NBC Universal media-and-entertainment unit, posted revenue growth of 9 percent and operating profit growth of more than 80 percent.

GE is about to sell a controlling interest in NBC Universal to Comcast Corp. The sale, which just won approval from federal antitrust regulators, is expected to close before the end of the month.

Wizarding World's success has spilled beyond Universal Orlando's gates: A report released earlier this week showed that Orlando-area hotels recorded their best December in more than a decade last month, as occupancy rose 11.9 percent and average room rates climbed 10.2 percent from the same month a year ago.

Hotels near and along International Drive — those closest to Universal — performed best, with occupancy rising 15.4 percent and room rates leaping 21 percent. The December results continued a string of monthly gains for local hotels that began in June — the same month Wizarding World opened.

What's more, Orlando International Airport announced earlier this week that its November passenger traffic rose more than 8 percent from a year earlier to 2.9 million travelers. It was the seventh straight month of traffic gains at the airport and its biggest single-month gain since February 2008.

Year-to-date traffic at OIA was up 3.3 percent through November to 31.9 million passengers.

Universal Orlando handed out bonus checks to employees Thursday in recognition of a record year following the opening of the hugely successful Wizarding World of Harry Potter.

"Thousands of team members across all areas of our destination received bonuses today [Thursday] — from back-of-house team members to those in direct contact with our guests," Universal spokeswoman Alyson Lundell said. "We're thanking our team members for the excellent work they've done over the past year and for where we know they will continue to take us in 2011."

Universal Orlando President Bill Davis also penned a letter to employees expressing gratitude for their contributions following a year in which third-quarter attendance skyrocketed by 36 percent — an extra 1 million visitors. That was the first full reporting period following Wizarding World's June 18 opening inside Universal's Islands of Adventure theme park.

Universal has not yet reported year-end attendance results. But the resort has said attendance has continued to climb through the fall and it had to halt admissions to Islands of Adventure several times around Christmas because of huge crowds — the first time the 11-year-old theme park has reached capacity

 

[L&Lfan]

Good for them! We were there for a week in October and had an absolute blast!

 

[Cobra B.]

This is really great news for those of us hoping for more projects in the World. You have to know that the powers are noticing these numbers which explains Wharf, FLE, and other projects in progress or awaiting green lights get the quick turnarounds. The enhancements Uni did are paying off for them. Hoping they will as much or more for Disney World!

 

[nytimez]

That's great news.

Clearly, Disney is getting ready to respond with "Project Z" or Tron since the "Project Princessify Everything" fell way short.

Hopefully, the two will keep pushing each other.

 

[Jblust524]

That's great news.

Clearly, Disney is getting ready to respond with "Project Z" or Tron since the "Project Princessify Everything" fell way short.

Hopefully, the two will keep pushing each other.

Boy, Operation Princessify Everything...that was just awful...I'm glad they changed their mind