Parking is not a last resort at Walt Disney Parks and Resorts, but finding your car in the Goofy Lot afterwards just might be. One of Disney's most prized possessions, it owns the Walt Disney World Resort in Florida, and Disneyland Resort in California. Outside the US it owns 51% of Disneyland Paris (through 40%-owned Euro Disney) and 47% of Hong Kong Disneyland, and earns royalties on Tokyo Disney. Disney World is North America's most frequented tourist spot and encompasses four theme parks (Magic Kingdom, Hollywood Studios, Epcot, and Animal Kingdom), hotels and resorts, water parks, and golf courses. The firm also operates the Disney Vacation Club (vacation ownership units) and the Disney Cruise Line.