Walt Disney Parks and Resorts

Walt Disney Parks and Resorts, officially Walt Disney Parks and Resorts Worldwide, Inc. and informally known as Disney Parks, is one of The Walt Disney Company's four major business segments and a subsidiary. The company is responsible for the conception, building, and managing of its theme parks and vacation resorts, as well as a variety of family-oriented leisure enterprises. It was founded in 1971, following the opening of Magic Kingdom at Walt Disney World in Florida.Originally, the company was known as Walt Disney Outdoor Recreation Division and later as Walt Disney Attractions. The chairman of Walt Disney Parks and Resorts is Bob Chapek, formerly president of Disney Consumer Products. Chapek reports to Disney CEO Bob Iger. In 2016, the company's theme parks hosted over 140.4 million guests, making Disney Parks the world's most visited theme park company worldwide, ahead of the second-most visited rival Merlin Entertainments. It is by far Disney's largest business segment according to employee headcount, with approximately 130,000 of the company's 180,000 employees as of 2015.