A company behind plans to open the first hotel in space says it is on target to accept its first paying guests in 2012 despite critics questioning the investment and time frame for the multi-billion dollar project.

The Barcelona-based architects of The Galactic Suite Space Resort say it will cost 3 million euro ($4.4 million) for a three-night stay at the hotel, with this price including an eight-week training course on a tropical island.

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