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Walt Disney Parks and Resorts Worldwide, Inc., also known informally as Walt Disney Parks and Resorts or Disney Parks, is one of 's four major business segments and a subsidiary. Originally known as Walt Disney Outdoor Recreation Division then Walt Disney Attractions, it is responsible for the conception, building, and managing of the company's theme parks and vacation resorts, as well as a variety of additional family-oriented leisure enterprises. It was founded in 1971, after the opening of at in , joining the original in , which opened in 1955. In 2014, the company's theme parks hosted approximately 134 million guests, making Disney Parks the world's most visited theme park company, ahead of the second-most visited rival . It is by far the largest Disney business segment by employee headcount, with about 130,000 of Disney's total number of 180,000 employees as of 2015.
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With the June 3, 1980 retirement of as Walt Disney Productions' Chairman and CEO, three divisions were formed, including the Walt Disney Outdoor Recreation Division, of which Nunis was named division president. Disneyland started using on May 5, 1987, while Disney World parks started with Epcot on October 2. A renegotiated Disneyland Japan royalty agreement in April 1988 by Chief Financial Officer netted Disney US$723 million in cash in exchange for lower royalty payments.