Disney would lose MILLIONS of dollars due to Hurricane Milton

Last Wednesday, October 9, Walt Disney World announced the closure of several of its theme parks due to the threat of Hurricane Milton, which hit the state of Florida during last night.

Milton made landfall last Wednesday night in Siesta Key, 112 kilometers south of Tampa, as a Category 3 hurricane on a scale of 5, leaving more than 3 million homes without electricity service this Wednesday.

Prior to the arrival of the meteorological phenomenon in Floirda, Disney reported on the closure of several of its theme parks since Wednesday, such as Disney’s Hollywood Studios, Disney’s Animal Kingdom, Magic Kingdom, EPCOT and Disney Springs, which will remain closed until Thursday.

Given the situation, various Goldman Sachs analysts projected last Tuesday that the anticipated closures and other interruptions due to the storm will considerably reduce Disney’s profits in its parks division, with losses ranging from $150 million to $200 million of dollars this quarter.

According to CNBC, Goldman Sach detailed that Milton will help park attendance decrease by around 6% this quarter. So far, Disney has not responded to comments about the hurricane and the banking group’s report.

If Goldman Sachs’ estimates are accurate, CNBC explains that Hurricane Milton would be the costliest storm for Disney since 2017, following the impact of Hurricane Irma. This company argued that its parks segment faced a loss of $100 million dollars due to this phenomenon, which is why Walt Disney World closed for days.

I have a degree in Communication Sciences from the Autonomous University of Sinaloa (UAS), with a specialization in Organizational Communication. From an early age I have felt a deep passion for journalism and radio, which led me to do my professional internship at the Culiacán City Council, where I had the privilege of writing and recording notes for a radio newscast. Currently, I am part of the team of journalists at the debate.com.mx news portal, where I work as a specialized editor in the migration and travel section. My work focuses especially on reporting on procedures related to obtaining American visas, residence in the United States and the Mexican passport. In addition, I share information about tourist destinations in Mexico and the world, as well as travel tips that cover airlines such as Aeroméxico, Volaris, Mexicana de Aviación and Viva Aerobús. I also have an extensive history writing about entertainment news and controversies in Mexico, America and the United Kingdom, as I emphasized the British royal family, particularly Kate Middleton, Princess of Wales and wife of Prince William, the next king of England. Likewise, I have dedicated myself to writing police topics, since I have an affinity for addressing sensitive topics with a human approach. Today I complement my professional training as a Law Degree student at the Autonomous University of Sinaloa.

See more