by Donald Wood
Last updated: 12:42 PM ET, Wed August 7, 2019
Despite the opening of the highly anticipated Star Wars: Galaxy's Edge, Disneyland and Disney World experienced a three-percent drop in attendance during the third quarter.
According to The Orlando Sentinel, Disney CEO Robert Iger said during the quarterly conference call Tuesday that several factors contributed to disappointing crowds at the $1 billion Star Wars: Galaxy's Edge land at Disneyland.
Not only were travelers concerned the theme park land would be overly crowded thanks to the new Star Wars attractions, but visitors were also turned off by third-party hotels in the area raising their prices in hopes of capitalizing on the hype around Galaxy's Edge.
Other factors Iger and Disney officials attributed to the decline in visitors were one-day ticket costs being raised "substantially" and the ongoing integration of Fox's entertainment assets. In addition, Disneyland's Star Wars: Galaxy's Edge opened without the Rise of Resistance.
"We build these things for the long term. We have no concerns whatsoever about them," Iger said during the conference call. "It's just going to take some time for things to work themselves out in terms of the way the market is reacting."
Disney World's version of the Star Wars land is scheduled to debut August 29, but it will also not feature the Rise of Resistance immediately. The most technologically advanced ride Disney has ever built will open in Orlando on December 5 and in California in January 2020.
As for the expected number of visitors when Star Wars: Galaxy's Edge opens at Disney World, Iger said smaller crowds are possible as people wait for the excitement level and guest numbers to drop before visiting the park.
As a result of the lower outlook, Disney stock fell as much as five percent in after-hours trading Tuesday.
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