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3 Billion Dollar Screams - College Essays

3 Billion Dollar Screams

Universal Studios Escape, unifies the “old” Universal Studios Florida, the all new Universal Studios Islands of Adventure theme park, a City Walk of restaurants and night clubs, and a new luxury hotel all under one name. ‘Islands of Adventure’ and City Walk will officially open this May, while the hotel is scheduled to open in the fall. Universal’s parent company, Seagram, invested billions in hopes of attracting larger crowds, drawing larger profits, and providing an all around, one-stop, high quality vacation experience that can compete with neighboring Disney World.
Universal Studios Islands of Adventure theme park represents a $2.7 billion investment that marketing execs hope will ...

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Universal uses a strategy of appealing to 10-15 year olds—older thrill seeking kids at an age they claim are no longer interested in Mickey Mouse.
Universal Studios Florida sold a mere $9 million worth of tickets to its park last year, versus the $41 million that nearby Disney raked in. A one-day pass to the park will bring in $42, the same rate as Disney. ‘Escape’s package prices are also competitive—about $1000 for hotel and three day passes for a family of four; excluding souvenirs and meals. Some rooms in the new $600 million hotel will even include a butler. The addition of City Walk increases the odds that visitors will stay after the two theme parks have closed. The past theory was that many adult guests would leave the park, only to return to one of Disney’s many attractions and spend their money there. Universal hopes to stop this trend by giving vacationers plenty to do, and with the addition of its new attractions and events, keeping its guests later should mean ...

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PAPER DETAILS

Added: 11/10/2004 10:09:50 AM
Category: Economics
Type: Premium Paper
Words: 741
Pages: 3

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