The Walt Disney World Swan and Dolphin are the only Walt Disney World resorts to carry the Disney name and receive special Disney benefits, while not being fully owned and operated by the Walt Disney Company.
In the late 1980s, Disney saw that they were losing business to area hotels that catered to conventions and large meetings, so Michael Eisner decided to build a convention-oriented hotel near Epcot. The Tishman Group, the contractor who was hired to build Epcot and who also had hotels in the nearby Disney hotel zone, claimed that the Epcot deal gave them exclusive rights to operate convention hotels on the Disney property, so Disney partnered with Tishman to develop the Swan and Dolphin complex. Eisner had used Graves for other company projects and wanted to continue to build striking, unique buildings.
Tishman and MetLife own the buildings, but has a 99-year lease on the land from Disney. Disney also receives a share of the hotel's revenues, and has a say in any design or architecture changes to the interior or exterior of the buildings.