Wednesday, September 27, 2006
[RealEdge] BT : Genting plans US$1b Sentosa theme park
| Published September 27, 2006  | |||
| Genting plans US$1b Sentosa theme park It expects to draw 5m visitors a year if it wins IR bid
By DANIEL BUENAS
GENTING International, which has partnered Star Cruises and Universal Parks & Resorts to bid for the Sentosa integrated resort, plans to build a US$1 billion-plus Universal Studios theme park that would draw more than 5 million visitors a year and feature 16 new or updated rides unique to Singapore.
Senior Universal executives have told Singapore reporters in Orlando, Florida, that the attractions planned for Sentosa include new rides based on the hit movies King Kong and Madagascar, as well as some of the company's most successful attractions, such as Revenge of the Mummy and Waterworld. 'The attractions for Singapore were selected as part of a detailed study of tourism markets in the region,' Genting and Universal said in a joint statement. 'And the physical design of the theme park - which will be larger than the Universal Studios theme park in Hollywood - is uniquely tailored to the environment and the surrounding area.' Tom Williams, chairman and chief executive of Universal Parks & Resorts, said the Singapore theme park would appeal to the 'same wide audience' as other Universal theme parks, including couples, singles, families and grandparents. Universal operates three theme parks in Orlando, including Universal Studios Orlando, Islands of Adventure and a water park called Wet & Wild. The company also operates Universal Studios theme parks in Los Angeles, Japan and Spain. Together, Universal Studios Orlando and Islands of Adventure attract about 11.5 million visitors each year, and generated revenue of around US$850 million in 2005, 60 per cent of which came from ticket sales and the rest from merchandising and F&B. The two parks - which have 50 or so attractions - had Ebitda (earnings before interest, taxes, depreciation and amortisation) of US$255 million and operating cash flow of US$109 million last year. Standard one-day ticket prices are now US$77 for Universal Studios Orlando, which also gives access to Islands of Adventure, and about US$55 for Universal Studios Japan. Mr Williams declined to say what price the company would set for a Singapore theme park, saying only that it depends on the 'marketplace' Universal Parks & Resorts' senior vice-president and chief creative officer Mark Woodbury said the Singapore theme park would be similar in size to the original Universal Studios Orlando, which was 55 acres (22 hectares) when it opened in 1988, or slightly less than half of the 49 hectare Sentosa IR site. The Singapore park would also have 'room for expansion', and would open with more than 20 attractions - a greater number at opening than any other previous Universal theme park. The theme park would have six themed areas - such as Super Hero City, Hollywood and Egypt - around a lagoon, with each area featuring 'distinctive architecture, landscaping and entertainment' According to Mr Woodbury, one themed area - The Lost World Jurassic Park - will be designed in collaboration with legendary director Steven Spielberg. Genting said these areas would 'feature new attractions and shows specially designed for Singapore, as well as blockbuster Universal attractions from around the globe that have been re-designed for the new theme park'. The park would also feature a mix of live entertainment, 'walkaround' actors playing different characters, 'edutainment' components and a 'night-time spectacular, blending entertainment from East and West'. Given the Asian proclivity for staying in the shade, rather than the sun, Mr Woodbury said many of the areas would have structures to provide shelter and that Genting was developing new technologies to help keep visitors cool. Asked how this bid compares with Genting's earlier try for the Marina Bay IR, Mr Williams said the theme park component this time around is much bigger. 'The Marina bid, from my standpoint, was very compartmentalised and quite small,' he said. 'It was 100 per cent indoors and had six attractions . . . (whereas) this is a full park.' Universal also plans to use its relationship with TV network owner NBC Universal - which wholly owns Universal Studios Hollywood and has interests in Universal Orlando - to strengthen its bid, although specifics have not been revealed. The Genting International consortium is one of four bidders for the Sentosa IR. The others are the Kerzner International- | |||
Change settings via the Web (Yahoo! ID required)
Change settings via email: Switch delivery to Daily Digest | Switch format to Traditional
Visit Your Group | Yahoo! Groups Terms of Use | Unsubscribe
__,_._,___
