I would love to see them build a Rankin Bass style Rudolph the Red Nosed Reindeer land. They own the IP, and I just imagine it as an all indoor (with really good AC) area with everything in the Rankin Bass style. It could be perpetually twilight (since it's winter at the North Pole) with auroras projected in the "sky". I think it would be something people love year round, and I think they could get a whole (smaller sized) land out of it. The attractions, food, and merch opportunities would be amazing!
Of course I know they own the rights, but there may be other rights and legal issues involved since it features music, but it would be awesome. Just having seen what SW, BG, and Dollywood have done with it for Christmas shows the potential.