Universal Orlando Posts Best Ever Quarter In Theme Park Revival; “We’re Going As Fast As We Can” On Epic Universe” Says Comcast CEO Brian Roberts

deadline.com:

NBCUniversal theme parks posted their most profitable fourth quarter ever today, led by Universal Studio Orlando, where Epic Universe is rising.Universal Studio Hollywood and Japan are close behind and Universal Beijing Resort, which opened last September, will post a modest profit in 2022. “It’s impossible not be excited about our theme park business,” said NBCUniversal chief Jeff Shell on a call with Wall Street analysts after parent Comcast’s earnings.Revenue approaching $1.9 billion for the division was up nearly 200% from $648 the year before for the last three months of 2021.

Ebitda, a kind of operating income, surged to $674 million from $3 million driven by strong growth in domestic attendance and per capita spending in the U.S.

and Japan. For full-year 2021, parks revenue rose to $5 billion from $2 billion and swung to income of $1.3 billion from a $477 million loss in 2020 — when parks were closed for a good chunk of the year and capacity constrained for most of the rest of it.Government mandates and capacity restrictions in Japan eased last quarter.

Execs said they’re pleased with Beijing’s first full quarter of operations with guest enthusiasm high but overall attendance limited by restrictions related to Covid-19, which is still creating volatility for the businessHowever, “We haven’t seen any impact of Omicron in Florida, for example, and very limited impacts we seem to have passed in Hollywood and Japan.