I have just heard a rumor that the first of the out-of-the-parks projects will be announced in July. The word on the street is that it will be a Disney themed-hotel in a major US city. The buzz is that it will be Mexican-themed. No word on whether Disney will go alone or look for a partner to help shoulder the cost. Of course, take this, as always, with a grain of salt. Things can change in a moments notice.