{"id":3036047,"date":"2024-10-08T21:53:24","date_gmt":"2024-10-08T19:53:24","guid":{"rendered":"http:\/\/nhub.news\/?p=3036047"},"modified":"2024-10-09T03:07:25","modified_gmt":"2024-10-09T01:07:25","slug":"walt-disney-world-closing-tomorrow-as-hurricane-milton-projected-to-take-150-million-toll","status":"publish","type":"post","link":"http:\/\/nhub.news\/de\/2024\/10\/walt-disney-world-closing-tomorrow-as-hurricane-milton-projected-to-take-150-million-toll\/","title":{"rendered":"Walt Disney World Closing Tomorrow As Hurricane Milton Projected To Take $150 Million Toll"},"content":{"rendered":"

A Goldman Sachs report released Tuesday predicted the storm could reduce Disney’s earnings by between $150 million and $200 million this quarter.<\/b>
\nTopline
Walt Disney World announced a number of theme park closures beginning Wednesday because of Hurricane Milton\u2014which is projected to tear through Central Florida\u2014after a Goldman Sachs report released Tuesday projecting Disney is likely to take a nine-figure hit financially from the oncoming storm.Key Facts<\/p>\n

Milton, which is now a Category 5 storm, is expected to pass through the Orlando area, where Walt Disney World is located, after it makes landfall near Tampa, Florida, on Wednesday. <\/p>\n

Disney announced a number of staggered park closures, including the closure of Disney\u2019s Hollywood Studios and Disney\u2019s Animal Kingdom theme park at 1 p.m. EDT Wednesday and the closure of Magic Kingdom park, EPCOT and Disney Springs at 2 p.m. EDT, and said it was likely the parks would stay closed through Thursday. <\/p>\n

Disney also said its transportation will stop operating after its theme parks close Wednesday\u2014though Walt Disney World Resort guests will have limited taxi service\u2014and canceled its Mickey\u2019s Not-So-Scary Halloween Party at the Magic Kingdom park, saying tickets will be refunded. <\/p>\n

Earlier Tuesday, Disney said its Fort Wilderness campground and its villas at Disney\u2019s Wilderness Lodge and Saratoga Springs resorts will close starting at 11 a.m. EDT Wednesday and will likely remain closed until Sunday, adding it was \u201cclosely monitoring\u201d the storm\u2019s path and was \u201cmaking adjustments based on the latest weather forecast.\u201d <\/p>\n

Goldman Sachs analysts projected Tuesday that anticipated closures and other disruptions from the storm will reduce Disney\u2019s earnings in its parks division by between $150 million and $200 million this quarter. <\/p>\n

The storm will also help cause park attendance to decline by approximately 6% this quarter, Goldman Sachs projects, as cited by CNBC. <\/p>\n

Disney has not yet responded to requests for comment on the hurricane and the Goldman Sachs report. What To Watch For
The Orlando area is now under a hurricane warning, with hurricane force winds expected Thursday morning and tropical storm force winds projected to continue through Thursday afternoon, according to the National Weather Service as of 5 p.m. EDT Tuesday. Wind speeds are expected to reach between 74 to 110 miles per hour, in line with a Category 1 or 2 hurricane, with at least eight to 12 inches of projected rainfall. The National Weather Service urges local residents to \u201cprepare for considerable wind damage\u201d and has called the projected wind speeds and rain a \u201cthreat to life and property\u201d also warning of the potential for several tornadoes.Surprising Fact
If Goldman Sachs\u2019 estimates are accurate, CNBC notes Hurricane Milton would be the costliest Florida storm to Disney since Hurricane Irma in 2017. The company said its parks segment lost $100 million due to that storm, which caused Walt Disney World to close for two days and also canceled multiple sailings on Disney Cruise Line. Walt Disney World has closed at least seven times in the past due to hurricanes, according to USA Today.Which Tourism Hotspots Will Be Closed?<\/p>\n