Disney Sells Land at Disney World to Four Seasons

[Melanie]

Disney sells land at Disney World to Four Seasons


LOS ANGELES (Reuters) - The Walt Disney Co. said on Monday it has sold 298 acres of land to Four Seasons Hotels and Resorts for a hotel and golf course to anchor a previously announced luxury development in Florida.

Disney did not disclose the terms of the deal but said the facility would enable the company to tap into the luxury travel market. The deal was the first for the two companies.

The plans call for a 445-room Four Seasons hotel, an 18-club championship golf course, and Residence Club time shares, as well as custom single and multi-family vacation homes.

The expansion will be located on the northeast border of Walt Disney World Resort in Orlando, Florida.