Ferrari has recently signed a licensing agreement with PortAventura Entertainment S.A.U. to build the next Ferrari Land inside the PortAventura resort and theme park in Spain.

Ferrari Land will span 75,000 square meters and will include the familiar attractions plus a variety of new ones as well.  All rides and manner of entertainment will cater to Ferrari enthusiasts, young and old.  It will also feature ‘Europe’s highest and fastest vertical accelerator.’

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For the first time-ever, a Ferrari-themed luxury five-star hotel will also be built inside PortAventura and it will offer 250 rooms, restaurants and a driving simulator.

An overall investment of 100 million euro is projected for Ferrari Land, which is expected to open by 2016.

“After the success of Ferrari World in Abu Dhabi, we received many, many requests to develop new amusement parks. We carefully sifted through the various proposals and decided to accept Investindustrial’s because it is a very solid plan developed by competent people that will bring the magic of Ferrari to Spain, a nation where we have many supporters and enthusiasts, and to which large numbers of tourists flock each year, in part thanks to PortAventura. This new licence further underscores our brand’s presence in this area. 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,” said Andrea Perrone, CEO of Ferrari Brand, the Ferrari subsidiary company that manages the Prancing Horse’s brand-related activities.