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'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

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The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
Arts & Entertainment

Disney Opens Second Star Wars Park in Orlando, Because Always Two There Are

By
Christopher Palmeri
Christopher Palmeri
and
Bloomberg
Bloomberg
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By
Christopher Palmeri
Christopher Palmeri
and
Bloomberg
Bloomberg
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August 27, 2019, 6:17 PM ET
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Walt Disney is getting a do-over on its Star Wars theme-park attraction.

A second Star Wars themed land is set to open Thursday at Disney’s Hollywood Studios park in Orlando, Florida. This time, the Galaxy’s Edge opening lacks many of the restrictions that hurt attendance when the first one opened in California in May.

The Florida attraction will open without any requirement for reservations. That’s a reversal from the California version, where guests had to be staying at one of the company’s hotels or sign up for online reservations that quickly filled up.

Restrictions that limit access for many annual-pass holders during the summer months will end on Sunday, allowing more guests to enter the Florida attraction without paying extra. That wasn’t the case in California, which opened at the start of the peak summer season when many annual-pass holders couldn’t use them. Restrictions that limited free attendance for Disney employees and their families will also not be in place in Florida.

Disney took a big bet on Star Wars this year, with two theme-park expansions costing $1 billion each in Orlando and the company’s original Disneyland in Anaheim, Calif. Attendance at Disney’s U.S. resorts fell 3% in the quarter that ended in June, a surprise to the company, which had been expecting a surge in guests to visit the new attraction.

Staying Away

On a conference call with investors earlier this month, Disney Chief Executive Officer Bob Iger said some fans may have stayed away because they thought Disneyland would be too crowded. Local hotels raised prices, a further deterrent, he said. Both new lands are opening with only one of the two main rides finished, something that may have further discouraged guests waiting for the lands to be completed.

Iger said he considers the attraction a success, with customer satisfaction scores “extremely high” and guest spending in the U.S. parks up 10%.

“We build these things for the long term,” Iger said on the call. “We have no concerns whatsoever about them.”

Fans in Florida will be able to come inside the park as early as 6 a.m., three hours earlier than the regular opening time, under a promotion announced in May. Two weeks ago, Disney announced discounted ticket prices for guests who wait until noon to enter. The company often offers promotions throughout the year.

Orlando-area hotels are offering discounts timed to the Galaxy’s Edge opening. The Four Seasons, for example, is giving a $500 Disney gift card to guests staying more than two days in a suite. Orlando is a much larger market than Anaheim, with Disney alone operating four theme parks and 18 hotels.

There will be one other difference between Galaxy’s Edge on opening day in Orlando versus Anaheim. The Disneyland attraction opened with a specially designed, reusable metal spork, which guests looking for souvenirs instantly stole. Some of them are now up for auction on EBay for $200 and up. Disney substituted regular forks within days of the opening, and no sporks will appear at Orlando.

More must-read stories from Fortune:

—What D23’s newly revealed mega slate tells us about Disney+
—Franchise fever takes over Disney’s theme parks
—Read our Succession season two episode three recap
—How Missy Elliott’s music videos influenced a generation, according to director Dave Meyers
—Show swapping is TV’s new star
Follow Fortune on Flipboard to stay up-to-date on the latest news and analysis.

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