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With another tropical storm or possible hurricane approaching Florida, check out how much Disney lost financially during Hurricane Ian.
Hurricane Ian
In September, Walt Disney World was greatly affected by Hurricane Ian. Walt Disney World closed for two days as Hurricane Ian made its course toward the Walt Disney World Resort. There was a phased reopening for the Disney Parks and some attractions had delayed reopenings due to possible complications from the storm.
As Disney watches the progression of the tropical storm Nicole, we were curious how much it actually costs for the Disney Parks to be closed for guests. During the recent Q4 Earnings Call, Disney shared how much revenue was lost due to Hurricane Ian.
Cost Analysis
With recent price increases seen across Disney Parks, people may laugh at the loss affecting Disney Parks. Disney is often hesitant to close the parks due to inclement weather unless absolutely necessary. Walt Disney World has only closed a total of 9 times since the park opened in 1971.
These closures included Hurricane Floyd in 1999; in 2001 due to the attacks on September 11th, in 2004 the park closed 3 times for Hurricane Charley, Hurricane Frances, Hurricane Jeanne, Hurricane Matthew in 2016, and Hurricane Irma in 2017. In 2020, the parks were closed for COVID-19. Most recently the parks closed for 2 days for Hurricane Ian.
With recent price increases seen across Disney Parks, people may laugh at the loss affecting Disney Parks. Disney’s Chief Financial Officer, Christine McCarthy shared that Hurricane Ian was a “65 million drag on the quarter.” Respectively, Disney Park’s revenue totaled $7.4 billion for the Q4 earnings.
Disney’s Chief Financial Officer, Christine McCarthy shared that Hurricane Ian was a “65 million drag on the quarter.”
This $65 million 2-day closure does help to explain why the Disney Company doesn’t close the parks until it is absolutely necessary for the health and safety of both Cast Members and guests.
What do you think of this big loss? Have you ever postponed a trip due to inclement weather? Share your thoughts with us on our Facebook Page.
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