Universal Studios plans $8b Beijing theme park by 2019

Plans by Universal Studios Inc, the United States film giant, to open an $8 billion Hollywood theme park in 2019 in Beijing face both opportunities in a booming amusement park market, and challenges in operating in cold weather, analysts said on Tuesday.

Universal Parks & Resorts, a division of NBCUniversal, which owns Universal Studios Hollywood, is partnering with Beijing Shouhuan Cultural Tourism Investment Co Ltd, a consortium of four State-owned companies, to invest in and operate the project.

A signing ceremony for the joint venture took place on Sunday at the New York headquarters of Comcast NBCUniversal.