Disney and Universal Take Divergent Paths in Orlando Market
Walt Disney World and Universal Orlando Resort are taking divergent paths in the Orlando market. According to recent updates from Goldman Sachs Communacopia + Technology Conference, Disney's attendance at its Florida theme parks increased by 3% over the summer, defying expectations of a challenging quarter.
Disney Chief Financial Officer Hugh Johnston attributed this success to the company's intellectual property and noted that demand for cruises has also been high. He added that despite being unable to fill all available demand, Disney continues to invest in its theme parks while expanding its cruise line.
In contrast, Universal Orlando Resort reported a decline in attendance during the second quarter, which has continued into the current period. Comcast Chief Financial Officer Jason Armstrong pointed to factors such as gas prices and airfare as contributing to this softness.