Walt Disney World faces a nine-figure financial hit from Hurricane Milton as the Florida theme park resort makes plans to close during the Category 5 storm, according to a new analyst report.
A report from Goldman Sachs analysts projects disruptions and closures from Hurricane Milton will reduce earnings by Disney’s theme park division by $150 million to $200 million during the current quarter, according to Forbes.
ALSO SEE: Disney World, Universal and all Florida theme parks close for Hurricane Milton
The latest forecast for Hurricane Milton calls for the major storm brewing in the Gulf of Mexico to make landfall on Thursday, Oct. 10 in the Tampa Bay area and cut a path over the major theme parks in central Florida.
Attendance at Disney World’s four theme parks — Magic Kingdom, Disney’s Hollywood Studios, Disney’s Animal Kingdom and Epcot — is projected to drop by approximately 6% this quarter as a result of the storm, according to the Goldman Sachs report released on Tuesday, Oct. 8
Disney World’s four parks attracted 48.8 million visitors in 2023 according to a report from the Themed Entertainment Association and AECOM.
Disney World has closed at least seven times due to hurricanes, according to USA Today.
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Hurricane Milton would be Disney World’s costliest tropical storm since Hurricane Irma when the company’s theme park division lost $100 million, according to CNBC. Disney World closed for two days in 2017 during Irma when the storm disrupted several sailings on the Disney Cruise Line.
Disney has not yet commented on the Goldman Sachs report, according to Forbes.
The Walt Disney World resort’s four Florida theme parks will close early on Wednesday, Oct. 9 and likely remain closed on Thursday, October 10.
The Disney Springs outdoor shopping mall will also close early on Wednesday and may reopen on Thursday afternoon. The Mickey’s Not-So-Scary Halloween Party at the Magic Kingdom has been canceled on Thursday.
Disney’s Fort Wilderness Resort & Campground, Copper Creek Cabins at Disney’s Wilderness Lodge and Treehouse Villas at Disney’s Saratoga Springs will close on Wednesday, Oct. 9 and will likely remain closed until the storm passes.
Walt Disney World has blocked all new theme park reservations for Tuesday, Oct. 8 and Wednesday, Oct. 9 and paused all new hotel reservations to prepare for the storm, according to WDW News Today.
Due to Hurricane Milton, the Disney Cruise Line has canceled a sailing aboard the Disney Wish set to depart Port Canaveral on Friday, Oct. 11.
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Universal Orlando, SeaWorld Orlando, Busch Gardens Tampa and Legoland Florida have all announced theme park closures as Hurricane Milton heads for central Florida.
Orlando International Airport will halt passenger flights on Wednesday, Oct. 9 while Tampa International closed to passenger travel on Tuesday, Oct. 8.
Florida theme parks offer inclement weather guidelines that allow visitors to reschedule or cancel theme park and hotel reservations if the National Weather Service issues a hurricane or tropical storm warning.
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