The original plan for the The Hobbit was to have one film adapted from the novel and then have a second film that would bridge the gap between it and The Lord of the Rings: The Fellowship of the Ring. The situation has now changed, with Del Toro and Jackson revealing to Empire that they now intend to have the story of The Hobbit span two films:
“We’ve decided to have The Hobbit span the two movies, including the White Council and the comings and goings of Gandalf to Dol Guldur,” says Del Toro.
“We decided it would be a mistake to try to cram everything into one movie,” adds Jackson. “The essential brief was to do The Hobbit, and it allows us to make The Hobbit in a little more style, if you like, of the [LOTR] trilogy.”