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Expansions planned for Disney World in Florida

From Reuters

Walt Disney Co. said it was planning two big expansions to its Walt Disney World theme park in Florida, including a 900-acre luxury resort and a commercial district outside the gateway entrance.

Burbank-based Disney said the resort would be anchored by a Four Seasons hotel and would include a golf course and vacation homes. Work on the resort could begin this year, and the hotel is forecast to open in 2010.

In addition, Disney said it would build a pedestrian-friendly development with hotels, stores and restaurants. The development, which will center on a retail village, will be built in phases over eight to 10 years.

Disney shares closed up 14 cents at $34.39.

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