AKIPRESS.COM - Italian luxury sports carmaker Ferrari announced Thursday it will open a €100 million amusement park in 2016 with rides and a five-star hotel in Spain, The Local reported.

Spread over 75,000 square meters within the PortAventura resort near Barcelona, Ferrari Land will feature Europe's highest and fastest “vertical accelerator”, a driving simulator, restaurants, and a 250-room five-star hotel.

Ferrari, part of Fiat Group Automobiles, already operates another theme park in Abu Dhabi called Ferrari World which opened in 2010 and boasts a rollercoaster touted as the fastest in the world.

Spain lured 60.6 million visitors last year, making it the third most visited country in the world, behind only France and the United States. PortAventura, located along Spain's northeastern coast, is one of Europe's top theme parks.