Walt Disney World will close Saturday as Hurricane Irma charges into Florida. The company has said it will reopen Tuesday at the earliest.
Closing Disney World is a rare event. Since it opened in 1971, the park has only been closed four times. The last time came in advance of Hurricane Matthew in October of 2016, when the park closed for about a day and a half.
Disney said that Hurricane Matthew cost it about $70 million in lost revenue. The longer expected Irma closure will likely be even more significant. Disney shares have declined 5.21 percent over the past week, while the broader market was close to flat.
The resort hotels will remain open throughout the weekend. Animal Kingdom and Disney’s Hollywood Studios will close at 7 p.m., while Epcot and Magic Kingdom will close at 9 p.m.
Universal Studios has confirmed that its Florida park will also be closed Sunday and Monday.