Walt Disney Co. Purchases Land at National Harbor, Maryland

National Harbor Waterfront - National HarborIt looks like Mickey Mouse is going to be Cvent's new neighbor. Walt Disney Co. bought a 15-acre parcel at Prince George's County's National Harbor development. It plans to build a 500-room hotel resort on the land, located in Maryland, which overlooks the Potomac and faces the District to the north.

The 300-acre National Harbor has had ambitions of becoming rival to DC as a conference and convention destination, and is already home to six hotels, over a dozen restaurants and the Gaylord National Resort & Convention Center, the largest of its kind on the East Coast. However, the recession has slowed the harbor's progress.

Milton V. Peterson, chairman of Peterson Cos., who has invested heavily in the National Harbor project, is optimistic about the benefits the Disney hotel will bring.

"The addition of Disney as a partner to the National Harbor mix validates and fulfills the shared vision that we will be a world-class waterfront destination resort," Peterson told The Washington Post. "It's an extraordinary compliment in this economy."

Chariman of Jay Rasulo also commented on the $11 million purchase: "It will be a project of significant scale and put a recognizable Disney footprint in the Washington area."

Learn more about the project at the National Harbor website.
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