Hotel fans, start your engines.
Plans are on track to open the world's first Ferrari Hotel in a new Ferrari Land theme park in 2016 in Spain, a company spokesman confirmed to CNBC on Wednesday.
The 250-room hotel project promises 5-star service along with restaurants, shops and large simulation areas for car racing, according to PortAventura Entertainment, which has signed the licensing agreement with Ferrari S.p.A.
The Ferrari venture will be part of the PortAventura complex located near Barcelona. The complex currently draws about 4 million visitors annually, with nearly half of those from outside Spain, the company said.
PortAventura plans a €100 million investment to create the Ferrari Land theme park, which will be dedicated to the global brand of Ferrari and include the highest and fastest vertical accelerator ride in Europe. HotelChatter.com notes that while this will be the world's first Ferrari Hotel, it will only be the second Ferrari Land. The Abu Dhabi Ferrari World is already up and running.