The automaker has teamed up with PortAventura Entertainment S.A.U. to announce a new Prancing Horse theme park which will also be its first European theme park. Located at the PortAventura resort near Barcelona, Ferrari Land is expected to spread out to 75,000 square metres. Estimated over $140 million, the auto-themed project will include the first Ferrari-themed hotel and Europe’s highest and fastest vertical accelerator. All set to open up in 2016, the family park will also lure travelers and Ferrari fans with a 250-room luxury five-star hotel along with restaurants, pool and even a driving simulator for adrenaline junkies.