The Walt Disney Company plans to build a new resort on the Hawaiian island of Oahu, and has agreed to purchase 21 acres of oceanfront property.
The site on the island's western side, will include 800 hotel rooms and villas.
The project will help the company expand its Disney Vacation Club, its time share business and maintain growth in the theme parks division.
The company increased sales 6-point-4 percent to US$2-point-9 billion last quarter, and profit rose 13-percent to $621 million.
The resort will open in 2011.