GoofGoof
Premium Member
Not really. The 2000 acres Uni was forced to sell was mostly land that could have been developed. RCID's 10-year plan shows how little of the remaining acreage is easily available for development. The last report suggests there's enough left for one major and two minor theme parks. (I strongly suspect they could recover more, if needed, but at increased cost.)
However, my point is that Universal did what it did because it was trying to stay solvent. Disney's only reason for selling land was to increase annual profits. The problem with selling an asset (such as land) is it generates revenue once. It makes the annual statement look good but doesn't help 5 or 10 years down the road. Develop that land wisely and, financially, it's a gift that keeps on giving year after year. TWDC sold land because it was padding annual statements, not because it made long-term financial sense for the company. As a result, we have housing/resorts such as Celebration, Golden Oak, and Wyndham Bonnet Creek instead of additional recreational facilities.
In my opinion the last thing Disney needs is more property. They overbuilt the property that is developed. Selling some off is no big deal in my opinion. Universal, like Disneyland, needs land desperately to expand. That is why I think of it as a real opportunity lost for Universal.