The first Ferrari theme park in Europe will come up in 2016 as part of the existing Port Aventura complex near Spanish seaside resort Salou.

The 100 million euro (US$139 million) project will include a Ferrari Land theme park; the first and five-star Ferrari-themed hotel with 250 rooms; restaurants, shops and extensive simulator areas for race cars.

The theme park will be targeted at “catering for all ages” with rides including the “highest and fastest vertical accelerator in Europe”. Another attraction will be a roller coaster with cars that are modelled on the world famous marque.

Ferrari Land is expected to be an added draw for a complex that already receives around four million visitors a year, nearly half of them foreigners.

The collaboration follows the successful debut of the world’s largest indoor theme park, Ferrari World in Abu Dhabi, which opened in 2010.

CEO Andrea Perrone said Ferrari would continue to consider additional destinations outside Europe to expand the concept, but said: “The brand is our most important asset and we have to enhance its value without diluting it.”