Walt Disney has bought a parcel of beachfront land in Hawaii to develop a hotel resort. Financial Times

The group will pay $144m for 21 acres of land on the Hawaiian island of Oahu, as part of a new strategy to expand its theme-parks business through smaller, mixed-use sites

Disney already operates a network of theme parks in California, Florida, France and Hong Kong.

‘This resort hotel will give our guests another way to visit an exciting part of the world with a brand they trust,’ said Jay Rasulo, chairman of Walt Disney Parks and Resorts.