I found out some awesome news today that the Hobbit will in fact become a trilogy. The original idea was for the book to be split up into two movies, but director Peter Jackson saw the potential to tell more of the story through a third release. This is great news for Middle Earth fans.
The first installment will be released December 14, 2012. Part two will be released 364 days later on December 13, 2013, with the third and final movie is being planned for summer 2014.
You can Check out a full release of the details here!