Universal Studios Beijing is Officially Announced

Universal Park & Resorts has announced plans to open a 300-acre theme park in Beijing, China in 2019. The $3.3-billion park will be built in conjunction with Beijing Shouhuan Cultural Tourism Investment Co. Ltd., who purchased the land for the park in March. Universal also has parks in Japan and Singapore, but has been working on the Beijing plans for the past 13 years. Universal and Beijing Shouhuan would own the park jointly. According to the L.A. Times, “Universal will have a 30% stake in the construction and ownership joint venture; Shouhuan will hold 70% of that. Universal will own 70% of the management and operations joint venture with Shouhuan having a 30% stake.”

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Tom Williams, chairman and chief executive of Universal Parks & Resorts, said the companies will “work together to create experiences based on China’s best-loved stories and centuries-long rich cultural heritage.” He said the park will “pay proper respect and homage to Beijing” and Chinese culture.

Beijing does have a snowy winter, so attractions will need to be developed with that in mind. No specific information on what attractions might be built was given.

Industry analyst AECOM says that China is expected to build 59 theme parks by 2020, including a Disney park in Shanghai, a DreamWorks Animation park in Shanghai and several Six Flags parks across the country. AECOM predicts “China will receive as many theme park visitors as the U.S. does currently” by 2020.

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