January 21, 1988 – Disney Acquires The Wrather Corporation
“Disney has great capabilities and will take our properties onto greater heights.” – Bonita Granville Wrather
On January 21, 1988, Disney finished the $152.3 million dollar acquisition process of the Wrather Corporation, which included the acquisition of the Disneyland Hotel. The relationship between The Walt Disney Company and The Wrather Corporation began back in 1955; Walt had realized the need for a hotel near the new theme park, but did not have the funds to create it, and convinced his friend Jack Wrather to build a hotel across the street. The hotel continued to grow through the years, eventually having three towers (originally named the Bonita, Marina, and Sierra). Throughout the years, Disney attempted to purchase the hotel, as it was seen as awkward that Disney did not own something with its name attached. When the deal was finalized in 1988, Disney not only acquired the hotel, but acres of land for potential expansion, and the lease to operate the RMS Queen Mary in Long Beach, California
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