Yes, Universal’s Volcano Bay is considered a separate, "third" theme park within the Universal Orlando Resort, distinct from Universal Studios Florida and Islands of Adventure. It requires its own specific admission ticket, or a "multi-park" pass that explicitly includes Volcano Bay. While it is located on the same overall property, it has its own entrance and is themed as a South Seas oasis centered around the 200-foot Krakatau volcano. Note for 2026 travelers: Volcano Bay is scheduled for a major, five-month refurbishment starting on October 26, 2026, and is not expected to reopen until March 24, 2027. During this period, Universal has paused the sale of 3-Park Annual Passes. If you are visiting in late 2026, you will need to stick to the two main dry parks or the newly opened Universal Epic Universe, as the water park will be entirely closed for maintenance and system overhauls.