Walt Disney Parks and Resorts is where the magic lives and home to Disney’s beloved characters. The segment traces its roots to 1952, when Walt Disney formed what is now known as Walt Disney Imagineering to build Disneyland in Anaheim, California. Today, Walt Disney Parks and Resorts operates or licenses 10 theme parks on three continents with an 11th park currently under construction in Hong Kong, along with 35 resort hotels, two luxury cruise ships and a wide variety of other entertainment offerings.

In 2003, seven of Disney’s theme parks ranked among the top 10 most-visited worldwide, according to Amusement Business Magazine. The Walt Disney World Resort in Orlando, Florida, retains its long-standing title as the top vacation destination in the world; Disneyland Resort Paris is the number one tourist destination in Europe; and the Tokyo Disney Resort is the number one tourist destination in Asia.

In addition to theme park resorts in California, Florida, Tokyo and Paris, Parks and Resorts operates the Disney Cruise Line, which celebrated its fifth anniversary in 2003; the DisneyVacation Club, which is one of the most successful vacation ownership programs in the world; Disney Regional Entertainment, which runs eight ESPN Zone sports dining and entertainment locations; and Anaheim Sports, Inc., which oversees Disney’s National Hockey League franchise, The Mighty Ducks.