Looks like Bigelow Aerospace has some new competition. A company called Galactic Suite has plans to build an orbiting hotel by 2012. Details are a bit sparse, but they already have $3 billion in funding to make it happen:
Galactic Suite began as a hobby for former aerospace engineer Claramunt, until a space enthusiast decided to make the science fiction fantasy a reality by fronting most of the $3 billion needed to build the hotel.
An American company intent on colonizing Mars, which sees Galaxy Suite as a first step, has since come on board, and private investors from Japan, the United States and the United Arab Emirates are in talks.
The company’s blog has a few early design ideas, but no details on how they’re actually hoping to get to orbit.