Disney will build a resort on Oahu Island

Walt Disney Co has acquired 21 acres of oceanfront property on the Oahu Island, Hawaii, to turn it into a luxury family resort. The company will build a hotel with 800 rooms and villas for Disney Vacation Club. Construction will start in 2008 and finish by 2011. It is also expected that the project will involve about a 1000 new jobs.
The company chairman, Jay Rasulo, commented that Disney expansion beyond theme parks could help enlarge the company’s share in hotel business.
At the moment Disney has 11 theme parks around the world. This February it was announced that Alwaleed bin Talal, a billionaire from Bahrain was discussing with Disney the project of a Disney park, which is set to be opened in the city by 2013. Disney Bahrain will be the company’s first theme park in the Persian Gulf. The other project investor is Kuwait Finance House........