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Credit: DisneyHurricane Milton will reportedly cost The Walt Disney Company a significant amount of money.
Related: Active Lockdown: Disney World To Give out $17 Million in Refunds as Extended Closure Announced
The Walt Disney World Resort confirmed it would be closed on Wednesday, October 9, and Thursday, October 10, due to Hurricane Milton. The category 3 hurricane has already caused damage on Florida’s West Coast, with Disney World halting all theme park operations as a precaution.
Walt Disney World is not the only theme park to shut its gates. Other popular Florida destinations, like Universal Studios and LEGOLAND, also closed. Wait times dropped significantly as the storm approached, though many guests were still visiting Walt Disney World before Milton made landfall.
However, a new report claims Disney is set to lose a significant chunk of change due to the closure.
Walt Disney World Estimated to Lose $200 Million
Related: Disneyland Starts Charging for Ice Cubes to Control Guest Overuse
Walt Disney World’s closure seemed inevitable given the strength and magnitude of Hurricane Milton, though “The Most Magical Place on Earth” waited as long as it could before announcing the change in operating schedule. This may have come down to a financial decision, as Goldman Sachs estimates the Walt Disney World Resort could lose between $150 million and $200 million as a result of closing.
Several Disney Cruise Line sailings were also adjusted and canceled, leading to an estimated loss in revenue by 6% this quarter.
Related: Jungle Cruise’s Indefinite Closure Gets Second Update at Magic Kingdom
According to CNBC, if Goldman Sachs is correct, Milton would be the most costly hurricane for The Walt Disney Company since Irma in 2017.
That storm caused a reported $100 million and saw similar cutbacks in operating schedules for Disney’s theme parks and cruise line.
Walt Disney World also lost a lot of money when the resort closed in 2020 due to COVID-19. Disney’s Florida resort was not the only one to close, with Disneyland remaining closed for an unprecedented 13-month stint.
As stated earlier, the Walt Disney World Resort will remain closed on Thursday, October 10. Guests are encouraged to monitor all forms of Disney communication to stay in the know regarding theme park hours
Stay tuned here for all the latest Walt Disney World news updates.