The park showed operating revenue of $17 million for fourth quarter 1999 compared with $9 million in the same 1998 period.

The revenue, however, wasn't enough to stanch the red ink. Universal lost $98 million for the fiscal year ended June 30. That compares with a profit of $37 million in fiscal 1998. The resort is banking on the new Universal Orlando name to generate new tourist dollars this year.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Capital Markets
Hotels
Miami