The Disneyland Resort, commonly known as Disneyland, is an entertainment resort in Anaheim, California. It is owned and operated by The Walt Disney Company through its Parks, Experiences and Products division and is home to two theme parks (Disneyland Park and Disney California Adventure), three hotels, and a shopping, dining, and entertainment complex known as Downtown Disney. The resort was developed by Walt Disney in the 1950s. When it opened to guests on July 17, 1955, the property consisted of Disneyland, its 100-acre parking lot (which had 15,167 spaces), and the Disneyland Hotel, owned and operated by Disney's business partner Jack Wrather. After the success with the multi-park, multi-hotel business model at Walt Disney World in Lake Buena Vista, Florida, Disney acquired large parcels of land adjacent to Disneyland to apply the same business model in Anaheim. During the expansion, the property was named the Disneyland Resort to encompass the entire complex, while the original theme park was named Disneyland Park. The company purchased the Disneyland Hotel from the Wrather Company and the Pan Pacific Hotel from the Tokyu Group. The Pan Pacific Hotel became Disney's Paradise Pier Hotel in 2000. In 2001 the property saw the addition of Disney's Grand Californian Hotel & Spa, a second theme park, named Disney California Adventure, and the Downtown Disney shopping, dining, and entertainment area.