Posted Wednesday, November 16, 2005 10:41 AM | Contributed by Jeff
Hit by increased competition, rising gas prices and a record hurricane season, Universal Orlando's parent company saw its profits fall 25 percent as attendance slipped at the Orlando theme park during its most recent quarter, the company said Tuesday. Universal City Development Partners Ltd. cited Disney's aggressive global marketing of Disneyland's 50th anniversary as being a major factor in capturing market share from Universal Orlando during the period from early July to early October. Overall, Universal Orlando continues to be a profit engine for its parent company. Net income totaled more than $34 million for the first nine months of 2005, up 40 percent from the year-earlier period, the company said.
Read more from The Orlando Sentinel.