Disney to Build Hawaiian Resort

BURBANK, California (October 3, 2007) - Walt Disney Parks & Resorts has announced that the company has finalized plans to purchase 21 acres of oceanfront property on Hawaii's island of Oahu.

The property, located on the island's western side in the picturesque Ko Olina Resort & Marina, Honolulu's premier resort destination, will be home to Disney's first mixed-use family resort outside of its theme park developments. The expansive resort, scheduled to open in 2011, is planned to have more than 800 units, including hotel rooms and Disney Vacation Club Villas.*

PFO image"This resort hotel will give our Guests another way to visit an exciting part of the world with a brand they trust," said Jay Rasulo, Chairman of Walt Disney Parks & Resorts. "In fact, Hawaii has been among our most requested Disney Vacation Club getaway locations beyond our Theme Parks. We are looking forward to building a special family resort that honors the cultural diversity of Hawaii and reflects the spirit of aloha that makes this location so unique."

Consistently ranked as one of the top family destinations in the world, Hawaii's natural beauty and extensive offering of family activities make it an ideal location for a Disney resort.

"Disney and Hawaii have something special in common, and that is the recognition of the importance of 'ohana," said Hawaii Governor Linda Lingle. "Not only does Disney provide wonderful family vacations, but as a media company, it also touches people worldwide with its entertainment offerings. The new Disney hotel will be a great addition to Oahu, and I am pleased to welcome a company that can also bring the world of new media and digital technology to Hawaii, opening new opportunities for innovative partnerships in non-tourism related sectors."

Ko Olina

The new resort hotel will be the latest addition to the Ko Olina development, known for its sweeping ocean views, picture-postcard white sand beaches and tranquil crystal blue lagoons.

Jeff Stone, President of The Resort Group and master developer of Ko Olina, has been working closely with Disney on the land acquisition and project.

"Ko Olina means 'place of joy,' and I can't imagine a more perfect fit here than a Disney resort that will bring joy to people from around the world," Stone said. "For many years, it has been our vision to continue to expand Ko Olina as a premier vacation destination for families and business travelers, and this new Disney resort hotel is making that vision a wonderful reality."

*This resort is not yet registered or offered for sale.

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