The company aims to begin construction in low orbit by 2025 and the company is aiming to welcome its first guests at the hotel - which has been named Voyager Station - in 2027.
The unique luxurious cosmic lodging will have 24 accommodation modules and its occupancy is expected to reach up to 440.
The station will offer its guests a variety of amenities, such as restaurants, spas, a cinema, gyms, lounges and bars.
Although the hotel is not expected to be completed for six years and a stay there will no doubt cost an exorbitant amount, Sputnik welcomes you to take a virtual - and free - tour around this literally stellar hotel in our latest photo gallery.