They have both, sort of.
The Grand Californian Hotel has Pinocchio's Workshop, kind of a daycare for children age 5+. It is available to anyone staying at one of the Disney hotels, but reservations are recommended to make sure space is available.
There is also a contract with an outside childcare company, Fullerton Childcare. I was looking into this option myself, but can't find much info on it, nor anyone who has actually used it...