Latest news with #SeanSnaith
Travel Weekly
a day ago
- Business
- Travel Weekly
Epic Universe: An epic impact
While Epic Universe has already spurred increased business for travel agencies, they are far from the only ones benefitting: Throughout its construction, the park has produced economic impact to the tune of billions of dollars throughout the country, and it is expected to generate billions more now that it is fully operational. Much of that is in central Florida. 'When a major new park debuts, the entire region benefits,' said Casandra Matej, CEO of Visit Orlando. 'Visitors don't just go to one park — they stay in our hotels and resorts, dine in local restaurants, shop in our stores and explore our diverse attractions. It's truly a rising-tide-lifts-all-boats scenario, from global brands to our small businesses.' Universal Destinations & Experiences engaged economist Sean Snaith, director of the University of Central Florida's (UCF) Institute for Economic Forecasting, to perform an analysis of Epic's impact locally and nationally. The report found that Epic's five-year economic impact from 2019 to 2023 totaled $44 billion and that the construction of the park generated 65,000 jobs across the country. Further, in its first year of operation, Epic is expected to generate an economic impact of $2 billion in Florida. Visit Orlando's Matej called Epic's opening a 'landmark moment' for the region, the most visited in the U.S. with 75.3 million visitors in 2024. Stays this year are already trending positively: From April to June, hotel bookings were pacing 2.5% ahead of the same period last year, according to Matej. Short-term rental bookings were up 16%. 'For more than five decades, theme parks have played a key role in transforming Orlando from citrus groves into a global tourism destination — driving growth, expanding infrastructure and boosting the local economy,' she said. Jorge Ridderstaat, associate professor of finance, accounting and econometrics at UCF's Rosen College, said the park's overall economic impact expanded well beyond Florida in its planning and construction phase. Going forward, it will be felt more in Florida and the Orlando area, he said, with an estimated $1 billion in additional tax revenue and nearly 18,000 direct employees. 'The direct and indirect economic impacts are major.' Jorge Ridderstaat, UCF 'There's also an indirect effect, and that's coming from additional restaurants, hotels; and you can even think about banking activities,' Ridderstaat said. 'The direct and indirect impacts are major here.' Universal's other projects under development may be smaller in scale than Epic but will provide significant economic benefits. Universal Horror Unleashed, a year-round attraction in Las Vegas, will open this year; the Universal Kids Resort is slated to open in Texas in 2026; and Universal's first theme park in England is set to debut in 2031. Ridderstaat said the new parks would impact local and national economies as well as motivate other operators to compete. 'Because these technologies being used are very sophisticated, that gives a run on Disney to increase the quality of their product,' he said. 'Because otherwise, you don't catch these types of people who are interested in innovative types of products. I think that's a challenge for the competition.'
Fast Company
22-05-2025
- Entertainment
- Fast Company
Universal Studios' Epic Universe opens today: Here are 5 hidden secrets in the theme park
Epic Universe is massive. Spanning over 110 acres, the new Florida theme park from Universal Studios, which opens today, has created four different themed lands that captivate the imagination and offer a wide array of thrills for park enthusiasts: The Wizarding World of Harry Potter Ministry of Magic, Super Nintendo World, How to Train Your Dragon Isle of Berk, and Dark Universe. That count jumps to five if you count Celestial Park, the hub of Epic Universe, with several restaurants and two big rides of its own. The park is massive financially as well. Universal spent an estimated $6 to $7 billion to create the theme park. Dr. Sean Snaith, director of the University of Central Florida's Institute for Economic Forecasting, estimates it will generate $2 billion for the state of Florida in its first year and create more than 17,500 jobs in year one. Comcast, the parent company of NBCUniversal, saw the division's theme park revenue drop in the first quarter of 2025 due to the L.A. wildfires. But the company expects to see a big boost from the new Orlando park. A one-day adult ticket runs $139, while children will pay $135 for a single-day pass. (Florida residents do not currently get a discount.) Each of the lands in Epic Universe is painstakingly detailed, creating several different incredibly immersive experiences. But the grandeur of Epic Universe comes at a cost: Crowds. Subscribe to the Daily newsletter. Fast Company's trending stories delivered to you every day Privacy Policy | Fast Company Newsletters If you're planning on going anytime soon, be prepared to wait. Some lines in previews of the park were more than five hours long—and they're likely to be longer at times in the opening months. If you opt to wait until the lines are shorter (and don't want to spend an extra $140 for an express pass) or simply are looking for something to do besides shop and eat in your downtime, the park's developers have included a slew of Easter eggs—little details and hidden secrets that make the experience even more fun. Here are some to keep an eye out for. Super Nintendo World [Photo: Universal Studios] Learn the secret drink at Dark Universe Head to the DR. H. Jekyll Apotheker in Darkmoor (the village within the Dark Universe portal) and listen closely. You'll hear Dr. Jekyll and Mr. Hyde arguing. Stick around and you'll learn the name of an off-the-menu drink, which you can order at the Burning Blade Tavern. Find a key piece of Harry Potter lore If you're willing to shell out $85, you can buy an interactive wand to cast 'spells' at certain locations in Universal's Wizarding World of Harry Potter, which trigger effects. One of those in Epic Universe's Ministry of Magic will reward you with a look at the Sorcerer's Stone, which fans of the books might remember, was in Paris in the time frame of this land (set during the Fantastic Beasts and Where to Find Them period). Look in the area of the Le Gobelet Noir restaurant. The Wizarding World Of Harry Potter – Ministry Of Magic at night [Photo: Universal Studios] Try a ride more than once If the lines aren't too bad, it's worth taking a second ride on several of the coasters, not just to get the adrenaline rush once again, but because the dialogue and soundtrack are often different on different tracks. Hiccup's Wing Gliders, for instance, has different dialogue from the dragon trainer, depending on whether you choose the right or left track. Look for nods to other Universal franchises Stardust Racers is one of the best and most intense rides in Epic Universe. Located in Celestial Park, it's not tied with any of the themed properties of the portals, but that doesn't mean it doesn't have a link to a well-known franchise. On the back of the coaster, sharp-eyed fans will see a flux capacitor, the device that powered Doc Brown's time machine in Back to the Future. Maybe that's what gives the coaster its three incredible bursts of speed through the course of the track. Not a fan of Back to the Future? The Curse of the Werewolf ride has a blink-and-you'll-miss-it nod to the classic An American Werewolf in London film, with a replica of the iconic red jacket worn by David Naughton in the 1981 film hung in the barn you'll zip through a time or two. Hiccup's Wing Gliders [Photo: Universal Studios] Study the bathroom details Bathrooms usually aren't a lot of fun, especially at theme parks. But Epic Universe does things a bit differently. For instance, you'll notice there aren't a lot of mirrors in the Dark Universe (since Dracula doesn't cast a reflection). And Super Nintendo World highlights the pipes, since Mario often uses warp pipes to transport through his world.
Yahoo
16-04-2025
- Entertainment
- Yahoo
Universal's new Epic Universe theme park is projected to generate $2 billion for Florida in its first year
Epic Universe, the upcoming central Florida theme park, will generate $2 billion for the state in its first year, according to calculations from the director of UCF's Institute for Economic Forecasting. The Universal Orlando attraction is the first major theme park opening in the area is over 25 years. It's expected to have a trickle-down effect for all theme parks in the area. On May 22, Universal Studios will welcome guests into its Epic Universe theme park for the first time, the first new major theme park to open in central Florida in over 25 years. Given the growing excitement and early ticket sales, it seems certain to be a hit for Universal, but it's also going to be a big boost for the state of Florida. The park is expected to generate $2 billion for the state in its first year and create more than 17,500 jobs in year one, according to calculations by Dr. Sean Snaith, director of the University of Central Florida's Institute for Economic Forecasting. Epic Universe will be the largest of Universal's theme-park properties, spanning 750 acres. (That's seven times as large as Disney World's Magic Kingdom park.) It will feature five themed worlds: The Wizarding World of Harry Potter - The Ministry of Magic, Super Nintendo World, How to Train Your Dragon – The Isle of Berk, Celestial Park, and Dark Universe. Snaith's calculations, which were provided by Universal, estimate the Universal Orlando parks have generated an economic impact of $44 billion since 2019—and the company's investment in building Epic Universe has had a nationwide economic impact of $11 billion so far. Epic Universe will be the hot ticket this summer, but it's also expected to bring more visitors to Disney World as families split their time between the competing parks. Disney has already announced several family-focused deals as it shifts its marketing to families with younger children in 2025; meanwhile, Epic Universe's collection of new coasters and thrill rides could prove a powerful lure for teens and young adults. To remain competitive, Disney has announced a $60 billion investment in its parks and experiences over the next decade, which will bring new areas, attractions, and rides to all of its Florida theme parks. This story was originally featured on
