The first ever Ferrari Hotel is coming. As part of the new Ferrari Land theme park in Spain, the world's first Ferrari Hotel will open in 2016, a spokesman said according to CNBC.

The Ferrari Hotel, as part of Ferrari Land, will be a 250 room hotel with 5-star service. It will also have restaurants, stores and large simulation areas for car racing, PortAventura Entertainment, the company behind the hotel said. The hotel will be shaped like the grille of a Ferrari and will be painted red.

The new hotel and theme park will be a part of the PortAventura complex near Barcelona, Spain. The complex is already a big tourist spot and it draws about 4 million visitors each year and nearly half of those come from placed outside of Spain.

PortAventura is planing to spend 100 million Euros ($138,910,000) to create the Ferrari Land theme park. The theme park will of course be based on the brand name car and will include the highest and fastest vertical accelerator ride in Europe.

While the Ferrari Hotel will be the first of its kind, this won't be the only theme park based on the Italian sportscar. There is already Ferrari World in Abu Dhabi which is the world's largest indoor theme park with one the the fastest roller coasters in the world.

"Ferrari Land will appeal to entire families as well as Formula One supporters," Andrea Perrone, managing director of Ferrari Brand, said in a statement according to CNBC. "We will continue to further look at the launch of additional Ferrari theme parks outside of Europe with no rush, while continuing to maximize the value of our prestigious brand without diluting it."