August 25, 2008 / 7:27 PM / 10 years ago

Disney sells land at Disney World to Four Seasons

Passers-by walk in front of the World of Disney store in New York January 19, 2006. REUTERS/Keith Bedford

LOS ANGELES (Reuters) - The Walt Disney Cosaid 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. (Reporting by Gina Keating)

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