Comcast To Invest In Theme Parks In California, Florida

comcast truck

Image by Dave Winer

Comcast Corp., the largest cable company and home Internet service provider in the US, is investing hundreds of millions of dollars into theme parks in Florida and California, challenging Walt Disney’s Co.’s tourism business.

Acquisition

Comcast acquired Universal Orlando Resorts in its deal for NBCUniversal in 2011. This summer, the cable-TV company will open a new Harry Potter-themed area and rides at its second theme park, Universal Studios Florida.

At an investor conference in January, Comcast chief executive Brian Roberts said, “We think there is a lot there in the theme park business for many years to come, and that we have the low market share and only one way to go.”

Hotel Construction Project

Comcast is also financing what it dubs as the largest hotel construction project in North America: the 1,800-room, 1960s-themed Cabana Bay Beach Resort. The resort’s first 600 rooms will open this month, and once fully opened later this year, it will boost Universal’s hotel room count in Orlando by 75 percent.