Walt Disney World Company

Walt Disney World Company
Parent Walt Disney Parks, Experiences and Consumer Products
(The Walt Disney Company)

Walt Disney World Company was created in 1967 as the company that owned and operated Walt Disney World near Orlando, Florida. The resort opened in 1971 and the land was owned by Walt Disney World Company, Walt Disney Travel Company, and Walt Disney World Hospitality and Recreation Corporation.

In 2009 the name was changed to Walt Disney Parks and Resorts U.S., Inc., a subsidiary of Walt Disney Parks, Experiences and Consumer Products a subsidiary of The Walt Disney Company, and is based in Lake Buena Vista, Florida.[1]

Reedy Creek Improvement District is the immediate governing jurisdiction for the land of Walt Disney World Resort including the cities of Bay Lake and Lake Buena Vista. Walt Disney World Resort is the Orlando area's largest employer, with approximately 70,000 employees, known as "Cast Members".[2]

History

Compass East Corporation was incorporated in Delaware on December 7, 1964. On September 30, 1966, Latin-American Development and Management Corporation, Ayefour Corporation (a pun on Interstate 4, or I-4, which was being built at the time), Tomahawk Properties, Incorporated, Reedy Creek Ranch, Incorporated, and Bay Lake Properties, Incorporated, all Florida corporations, were merged into Compass East Corporation. These companies were responsible for buying up the land that would become Walt Disney World; many companies were used in order to obscure their singular purpose.

Reedy Creek Drainage District, later renamed Reedy Creek Improvement District, was incorporated on May 13, 1966 to manage the land owned by the Compass East Corporation. On September 26, 1967, Compass East Corporation was renamed Walt Disney World Company. By this time, most of the land had been bought and the plan for Walt Disney World was public. Walt Disney World Company then acquire Disneyland, Inc., a company who own and operate Disneyland in early 1990s.

Walt Disney World Company was reincorporated in Florida on September 30, 1997. On January 26, 1998, Ranch and Grove Holding Corporation, which had owned some of the land in Walt Disney World since April 12, 1972 was merged into Walt Disney World Company. Reedy Creek Energy Services, Incorporated, originally known as Reedy Creek Utilities Company, Incorporated was merged into Walt Disney World Company on September 30, 1999. On October 2, 2000, MDMP Corporation, which had been deeded many improvements in Walt Disney World on December 20, 1996, was merged into Walt Disney World Company.

Walt Disney World Company changed its name to Walt Disney Parks and Resorts U.S., Inc. in March 2009.

See also

References

  1. ↑ "Company Overview of Walt Disney Parks and Resorts U.S., Inc". Bloomberg. Retrieved 4 February 2018.
  2. ↑ "New overtime rule could have big impact in Orlando tourism, service industry". Retrieved June 30, 2016.
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