SpaceTek has signed a memorandum of understanding with Hong-based Swiss Belhotel International have signed an agreement to develop and operate a space hotel in low-earth orbit, the company said.
SpaceTek is expected to operate a space station developed by NPO Mashinostroyenia, a leading space and rocketry company in Russia.
Swiss-Belhotel International has begun discussions with SpaceTek on this project which is at an early stage of development. It will be several years before a commercial programme will be able to be presented.
The space station is presently based in the United Kingdom undergoing further development.