Four Seasons Finalizes $360 Million Hotel Deal at Disney World

Four Seasons Hotels and Resorts officials say they’ve secured financing to build a $360 million resort at Orlando’s Walt Disney World.

In an announcement Tuesday, officials confirmed that construction of a 444-room hotel will begin this December, with a targeted opening date by 2014. Also in the plans is a rooftop restaurant with views of Disney’s Magic Kingdom as well as a “lazy river” water feature.

“This is something that we’ve been very excited about for a long time, so this is exciting for us to get to this milestone,” said Scott Woroch, Four Seasons’ executive vice president of worldwide development. “And we’re very enthusiastic about being on the cusp of getting shovels into the ground.”

Four Seasons bought the land for the hotel from Disney World in August 2008 for approximately $51 million, according to property records.

While officials had hoped to open the resort last year, the plan was nixed due to the global economic recession.

Four Seasons will be the second elite hotel located at Florida’s Walt Disney World. Waldorf Astoria opened a 498-room resort in 2009.