Ferrari has announced that it will build a new theme park and hotel in the Spanish resort of PortAventura, which will open to the public in 2016.
The new theme park, dubbed Ferrari Land, will cover more than 18 acres and will include a luxury five-star Ferrari-themed hotel, restaurants and a driving simulator. A new rollercoaster will also be built, which Ferrari claims will become Europe's highest and fastest vertical accelerator.
The entire park is expected to cost around 100 million euros (£84million) to develop.
PortAventura, located around 70 miles from Barcelona, already attracts four million visitors annually, with 50 per cent of those coming from outside Spain. It's already the Mediterranean's top amusement park as well as the second-ranked in Europe.
"After the success of Ferrari World in Abu Dhabi, we received many, many requests to develop new amusement parks," said Andrea Perrone, CEO of Ferrari Brand.
"Ferrari Land will delight the whole family and not just Formula 1 fans. We will continue to evaluate other proposals for theme parks outside Europe at our leisure: the brand is our most important asset and we have to enhance its value without diluting it."
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