20 Century Fox

Walt Disney (DIS - Get Report) is getting the most out of its purchase of the rights to the "Star Wars" franchise as it plans to open its Star Wars: Galaxy's Edge attarcction in California and Florida in the coming weeks.

The media company announced that the first park will open at Disneyland Park in Anaheim, California, on May 31, and in Disney World in Orlando, Fla., on August 29. 

Galaxy's Edge will feature two Star Wars-themed rides called Millennium Falcon: Smuggler's Run and Star Wars: Rise of the Resistance. The parks will be an immersive experience, with park employees playing the roles of characters in the Star Wars universe. 

The company also has plans for a Star Wars-themed hotel just outside the park in Orlando. 

The announcement came during Disney's annual shareholder meeting. 

Walt Disney is a holding in Jim Cramer's Action Alerts PLUS charitable trust

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