No, The Walt Disney Company has never owned or operated the Walt Disney World Swan and Dolphin hotels. These two iconic resorts, designed by architect Michael Graves, were developed as part of a unique "joint venture" in the late 1980s. At the time, Disney wanted a massive convention hotel on its property but was facing a cash crunch and lacked expertise in the convention market. They partnered with the developer Tishman Realty & Construction, MetLife, and the hotel company Starwood (which was later acquired by Marriott International). Under this long-term land lease agreement, the hotels are located on Disney property and are part of the "Walt Disney World Collection," granting guests perks like Early Entry, but the management and ownership remain with Tishman and Marriott. This is why the Swan and Dolphin are the only hotels on Disney property where you can use Marriott Bonvoy points for a stay, even though you are walking distance to EPCOT and Disney's Hollywood Studios.