Officials announced Tuesday that construction of the 444-room hotel will begin in December. Plans call for a rooftop restaurant with views of the Magic Kingdom. It is scheduled to open by late 2014.

The Orlando Sentinel reports Toronto-based Four Seasons bought the land from Disney World in 2008 for about $51 million. The property includes Disney's Osprey Ridge golf course, which will be incorporated into the resort.

Officials had hoped to open the resort last year, but it was slowed by the global recession.

Four Seasons executive Scott Woroch says he expects a 50-50 split of leisure and business travelers at the Orlando resort.