Pursuits
Disney Gets $267 Million From City to Build $450-a-Night Hotel
- Park operator currently has 3 hotels in Anaheim, California
- Disney’s past tax deals with city include one on ticket sales
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Walt Disney Co. will receive an estimated $267 million in tax rebates over 20 years from Anaheim, California to build a new luxury hotel next to its Disneyland theme park.
The City Council voted three to one on Tuesday night to approve the deal, which will return 70 percent of the lodging tax generated by the hotel to Disney as an incentive for the company to go forward with the project. The property will have an assessed value of $411 million and cost guests about $450 a night, according to a of the proposal on the city’s website.