From the Orlando Sentinel -
The parent company of Universal Orlando and Universal Studios Hollywood says attendance at the two resorts dipped slightly during the first three months of the year. But the customers who did show up spent more money.
“We had slightly lower attendance overall in the two parks. But that was mostly offset by higher per-capita spending,” General Electric Co. Vice Chairman and Chief Financial Officer Keith Sherin told analysts during a conference call Friday to discuss GE’s first quarter earnings.
The quarter was highlighted by the successful opening of Universal Studios Singapore, Sherin said. It is the second overseas theme park operated by Universal Parks & Resorts, along with Universal Studios Japan.
GE provided few other details about the performance of its parks, which are a tiny sliver of the industrial conglomerate’s overall holdings. But when the parks were combined with the Universal Pictures movie studio — parks and film are two of the smallest divisions at GE-owned NBC Universal — GE said total revenues were up 14 percent from a year ago and profit was flat.
GE is in the process of selling a controlling stake in NBC Universal to cable giant Comcast Corp. in a deal currently being reviewed by federal regulators. NBC Universal co-owns Universal Orlando with private-equity firm The Blackstone Group.