A New Report Finds That Disney World Has Lost $677 Million Due to Hurricanes Since 1999
In what has become an increasingly common occurrence, Walt Disney World had to temporarily close last year due to the impact of Hurricanes Milton and Helene.
While analysts initially feared that Disney would lose $200 million due to the hurricane’s impact, it was eventually revealed that those numbers were a bit high. According to Disney’s earnings report, the company actually lost $130 million.
Photo: Disney
In the last quarter century, Disney World has had to close close to ten times due to hurricanes, compared to just three in the previous 29 years.
The Severe Weather Has Taken a Toll
As Walt Disney World continues to deal with extreme weather, Disney has felt the financial burden.
Cinderella Castle in Magic Kingdom
According to a new report from the Orange County Register, Disney has lost $677 million in hurricane-related closures since 1999. International Theme Park Services CEO Dennis Speigel estimated that figure.
With Walt Disney World increasingly facing the risk of extreme weather, the cost of doing business in Florida has increased. Not only is there a higher risk of income loss, but expenses have also increased due to the storms.
Photo: National Weather Service
“As extreme weather events grow more common, the cost of insuring theme park properties has been rising,” Speigel wrote in an industry note published in January. “Higher premiums and stricter policies are becoming the norm, forcing operators to allocate more resources to insurance rather than guest experiences or park upgrades.”
Disney Has Taken Precautions
While Disney has largely continued business as usual, the company has taken some steps to better prepare for extreme weather.
Earlier today, for example, the company announced a new partnership with Weatherstem that will increase its significant weather-monitoring capabilities.
While that collaboration primarily focuses on the Disney Cruise Line, it should benefit all Disney locales.
Photo: WeatherStem
As Walt Disney World forges forward, more hurricanes are sure to come. Thankfully, Disney is aware of the situation and is doing everything possible to be prepared.
