Walt Disney Co. is planning two expansions to its Walt Disney World theme park in Orlando, Fla., including a 900-acre luxury resort and a commercial district just outside the entrance, the company announced Friday.

Disney said the resort will be a Four Seasons hotel and will feature a golf course and vacation condos. Work on the resort should begin this year, with the hotel expected to open in 2010, the Burbank entertainment and media company said.

Disney also plans to build a pedestrian-friendly development with hotels, stores and restaurants on the resort property. The development, which will center on a retail village, will be built in phases over the next eight to 10 years.

Shares in Disney were down 30 cents, or less than 1 percent, to $34.09 in Friday afternoon trading on the New York Stock Exchange.