A major new theme park is coming to Disney’s backyard

For many families, theme parks are more than just vacation destinations; they are cherished traditions. From thrilling rides and indulgent food to seasonal events and must-have merchandise, these experiences continue to draw millions of visitors each year.

As a kid, my family took yearly trips to Orlando with one unwavering goal: visiting every Disney and Universal park we could. Weeks in advance, we mapped out each ride and attraction and made reservations at classic resorts and restaurants, often before even booking our flights.

Though often an expensive hobby, family tourism has helped propel some of the world’s most iconic entertainment companies, such as Walt Disney World, Universal, and Six Flags, into household names, while giving rise to beloved amusement parks that have stood the test of time.

Now, after more than 80 years, another player is entering the theme park game, and it's coming in with bold ambitions.

Mattel reveals plans for new theme parks

Toy manufacturing and family entertainment giant Mattel Inc. (MAT) is building a new indoor water park in Central Florida called "Mattel Adventure Park," and early announcements suggest it aims to rival longstanding industry leaders that have battled for the title of best theme park.

In November 2025, Mattel unveiled plans for Mattel Wonder Indoor Waterparks, expanding its portfolio into the theme park industry with a new form of entertainment featuring its brands across attractions such as lazy rivers, wave pools, and waterslides, according to the press release.

Mattel plans to bring the concept to five destinations, in partnership with aquatic design firm Martin Aquatic, waterpark management firm American Resort Management, and developer I-dentity Group, with Orlando, Florida, named as a primary target.

"Mattel Wonder Indoor Waterparks will encompass many iconic Mattel brands that span generations of play, offering innovative water-based attractions and amenities in a dynamic new format," said Mattel VP Global Location Based Entertainment Julie Freeland in the press release.

"We are thrilled to collaborate with these exceptional industry leaders in waterpark development to create an experience where guests can connect with their favorite brands in an entirely new way."

So far, the Mattel Adventure Park website lists only Glendale, Arizona, and Kansas City, Kansas, as official "coming soon" locations, but development plans confirm that yet another major city is in the works.

What we know about Mattel Adventure Park in Orlando

Mattel Adventure Park in Orlando will span 11 acres along State Road 535 near Lake Buena Vista Factory Stores, featuring "indoor/outdoor water park amenities, an outdoor gathering area, a retail store, and a family entertainment center," according to a pre-application permit filed on Mattel's behalf and reported by Fox35.

The concept plan

• Indoor area:
  A 90,000-square-foot indoor waterpark An 11,400-square-foot retail area 42,000-square-foot slide zone
• Outdoor portion:
  35,700 total square feet, including a waterpark section, an event lawn, a parking garage with 368 spaces, and a surface lot with 385 spaces

This location is strategically positioned less than 10 minutes away from Walt Disney World Resort and under 20 minutes from all Disney parks. It is also about 20 minutes from Universal's Epic Universe and very close to Universal Boulevard and the International Drive corridor.

While the chosen spot is no coincidence, it could give tourists more options, create new local jobs, and help Mattel attract foot traffic from its much larger rivals.

Planned attractions and experiences

The Mattel Adventure Park website discloses several planned attractions for all ages, themed around its iconic brands, including Thomas & Friends, Hot Wheels, Barbie, Masters of the Universe, and Mattel Games.

Attractions coming soon

• Thomas & Friends:
  Thomas & Friends: World of Sodor Thomas Adventure Train: Treasure Hunt Thomas & Friends: Party Station Bertie's Bus Stop Bulstrode's Stormy Voyage Flynn's Firefighting Academy Harold's Helicopter Tour Sodor Balloon Ride Dockside Play Park
• Hot Wheels:
  Hot Wheels Bone Shaker: The Ultimate Hot Wheels Twin Mill Racer Hot Wheels Unleashed 4D Ride Hot Wheels Party Pit Stop Hot Wheels Go-Karting: Raceway Hot Wheels Go-Karting: Skyway Hot Wheels Speed Challenge
• Barbie:
  Barbie Beach House Barbie Dream Closet Experience Barbie Flying Theatre
• Masters of the Universe:
  He-Man vs. Skeletor Laser Tag
• Mattel Games:
  UNO! Wild Climb Mattel Games Mini Golf Kerplunk Drop Tower Mattel Adventure Park Mattel Games Way

Dining and bars

• Thomas & Friends: Dockside Café
• Hot Wheels: Hot Wheels Legends Bar
• Barbie: The Barbie Rooftop
• Mattel Games: Adventure Pizza Kitchen

It's not yet confirmed whether all attractions will be featured at every Mattel Adventure Park location.

When will the Mattel Adventure Parks open?

Mattel has not revealed an official opening date for the Orlando or Glendale locations, but the Kansas City park is set to open in 2026, according to a company press release.

Given that Kansas City broke ground in late 2024, a similar timeline would suggest the Orlando park could open around early 2028, assuming construction and permitting proceed without delays.

Why Mattel is entering the theme park market

Mattel's decision to enter the theme park market could be an effort to reignite growth following recent sales slowdowns.

In the third quarter of fiscal 2025, net sales declined 6% year over year, with North America sales down 12%. Gross Margin fell to 50%, primarily due to unfavorable foreign exchange, inflation, tariffs, and higher sales adjustments, as reported in its financial overview.

More Theme Park Business News:

• Disney World and Universal Studios rival closes 2 beloved rides
• Universal Studios Florida theme parks closing 4 fan-favorite rides
• Disney World adding new land, closing classic attractions

For the full fiscal year 2024, net sales decreased 1%, with North America sales down 1%.

"This quarter, our U.S. business was again challenged by industry-wide shifts in retailer ordering patterns," said Mattel CEO Ynon Kreiz in the company's third-quarter earnings call. "We continued to operate with excellence and made meaningful progress advancing our IP-driven toy business and expanding our entertainment offering."

Theme parks represent an extension of that strategy, allowing Mattel to monetize its intellectual property beyond traditional toys and media.

The broader theme park market

While theme parks generate billions in annual revenue, they are also costly to operate and maintain. Competition among major operators has intensified as companies race to outdo one another with new attractions and immersive experiences to keep guests engaged.

Five major amusement park operators account for the majority of U.S. revenue, with Disney, Universal, and Six Flags holding the top three spots, according to IBISWorld's latest report.

Top U.S. theme park companies by 2024 revenue

• The Walt Disney Company (DIS): $34.1 billion (Source:The Walt Disney Company) 
• Universal Theme Parks - Comcast (CMCSA): $8.6 billion (Source:Comcast) 
• Six Flags Entertainment Corporation (FUN): $2.7 billion (Source:Six Flags Entertainment Corporation)

The global theme park industry is projected to reach $82.73 billion by 2032, driven by technological innovation, shifting consumer expectations, and a growing focus on personalized guest experiences, according to Roller's 2024 Theme Park Industry Trends and Statistics report. 

"Theme parks increasingly use sophisticated data analytics to transform visits into tailored adventures, ensuring every guest’s experience is unique," said Roller’s industry experts. "This trend is about forging a deeper connection between the parks and their visitors, creating memories that are not only memorable but also deeply personal."

Innovation has become essential for survival in a highly competitive market, and parks that fail to adapt to meet evolving consumer preferences and technological advancements risk falling behind. 

"To remain relevant amid evolving audience expectations, theme parks and their business leaders must rethink how they deliver guest experiences," said EY Americas Consulting Chief Technology Officer Jason Noel in a statement.

"Introducing minor changes is no longer sufficient; addressing challenges requires a transformative approach driven by advanced technology and strategic initiatives."

Rising theme-park ticket prices

The push for innovation comes at a cost to consumers.

In 2025, single-day tickets at the 20 most popular North American theme parks averaged around $105, a 37% increase since 2015, slightly outpacing the 36% national inflation rate, according to FinanceBuzz.

Single-day ticket price increases since 2015

• Disney: +69%
• Universal: +49%
• Six Flags: +5.7%

To remain competitive, Mattel will likely need to align its pricing with competitors and test whether consumers are willing to pay premium prices for a brand entering the theme park space for the first time.

Related: Universal Studios Orlando demolishes entire theme park land