Thompson and Dundy called their new park Luna Park. Luna had a double meaning; it was not only a reference to the Airship Luna from a Trip to the Moon, but also Skip's sister's name. The pair had not a moment to lose as the start of the following season in May 1903 was just nine months away.

The name "Luna Park" is a tribute to one of the most famous early amusement attractions in history: the "A Trip to the Moon" ride. This innovative attraction, inspired by Jules Verne’s novels, debuted in 1901 at the Pan-American Exposition in Buffalo. It featured a mock airship that took passengers on a simulated journey to the lunar surface. The creators of the ride, Frederic Thompson and Elmer Dundy, moved the attraction to Coney Island in 1903 and opened an entire amusement park named after the airship. The airship itself was named "Luna" (the Latin word for Moon) to honor Elmer Dundy’s sister, whose name was Luna. The 1903 Coney Island park was so successful and visually stunning with its thousands of electric lights that the name "Luna Park" became a generic "Gold Standard" term for amusement parks worldwide. In 2026, while many original Luna Parks are gone, the brand name is still used in cities like Melbourne, Sydney, and Rome, and the Zamperla Group continues to operate the revived Luna Park at Coney Island as a supportive link to its historic 1901 origins.