Tokyo Disneyland and its sister park, Tokyo DisneySea, are the only Disney-branded theme parks in the world that are not owned or operated by The Walt Disney Company. Instead, they are owned and managed by the Oriental Land Company, a Japanese corporation that pays Disney for the licensing and "Imagineering" expertise. This unique arrangement stems from the park's development in the late 1970s, when Disney was financially overextended and preferred to take a royalty-based risk-free approach in Japan. Despite the separate ownership, the parks maintain the exact same quality and service standards found in the U.S. parks. Interestingly, because they are privately owned, the Tokyo parks often receive more frequent updates and unique seasonal entertainment than their American counterparts. While Disney owns a majority stake in Paris and Hong Kong, and a minority stake in Shanghai, Tokyo remains the only location where they have zero equity and strictly act as a licensor.
The Walt Disney World Resort, also called Walt Disney World or Disney World, or simply abbreviated WDW, is an entertainment resort complex in Bay Lake and Lake Buena Vista, Florida, United States, near the cities of Orlando and Kissimmee.