Disney Parks, Experiences and Products, Inc., formerly 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. It manages and operates the Walt Disney World Resort in Florida, the Disneyland Resort in California, the Disney Vacation Club, the Disney Cruise Line, and the Adventures by Disney guided vacation business. It also manages the company’s merchandising division, which produces and licenses various Disney-branded products. Additionally, the Parks and Resorts division includes the Disney Store chain, Disney’s Grand Californian Hotel & Spa, and Disney’s Paradise Pier Hotel. The division also manages the Disney theme parks, Disneyland Park, California Adventure Park, Magic Kingdom Park, EPCOT, Disney’s Hollywood Studios, Disney’s Animal Kingdom, as well as the Disney Springs, the ESPN Wide World of Sports Complex, and the Disney’s Oak Trail Golf Course.