Bigelow Aerospace B330 complex
Credit: Courtesy of Bigelow Space Operations

Get ready for the final frontier of hotel stays.

Billionaire Robert Bigelow, founder of the hotel chain Budget Suites, is planning an ambitious new project of building an inflatable space hotel by the year 2021.

His new company, Bigelow Space Operations, which was announced on Tuesday, is part of his firm, Bigelow Aerospace, founded in 1999. Bigelow Aerospace is currently in the midst of building two space modules, B330-1 and B330-2, which Bigelow said are “very far along in fabrication,” according to the Daily Mail.

Bigelow Space Company was formed to manage the modules while Bigelow Aerospace is in charge of sending them into orbit.

These two modules are planned to serve as the brand new, orbiting hotels for Bigelow’s new company. At 55 feet long, these two crafts link together to form a huge private space station. They will operate at low Earth orbit.

According to the Daily Mail, if successful, Bigelow’s floating space hotel would not only be a tourist destination, but would also serve as space for governments seeking orbital laboratory space.

For those who are looking for a galactic vacation, Bigelow noted that the price per stay would be in the “low eight figures.”

The new space hotel is just one step in Bigelow’s investment in the “global space market.” His company has been investing in other projects that look toward further, longer-term space exploration. The company is also reportedly working with United Launch Alliance (ULA) to send an inflatable habitat to low lunar orbit by 2022.

“Our lunar depot plan is a strong complement to other plans intended to eventually put people on Mars,” Bigelow said.

A multimillion-dollar hotel stay could potentially be a giant leap for mankind.