[1] The Poseidon Mystery Island Resort may be the world’s first underwater hotel. It is currently in construction and scheduled to open in late 2008. It is in competition with Dubai’s hyped $500 million 1.1 million square foot [2] Hydropolis complex but may beat it to the title due to the later’s current “land acquisition” problems.

The hotel, which will sit in about 40 feet of water, will boast individual suites, as well as a library, a wedding chapel and a restaurant. In addition to scuba diving, the guests will be able to cruise around the lagoon in either a 16-person submarine capable of 300-foot-depths, or learn to pilot a three-person Triton sub, which can reach 1,000 feet.

Each individual suite will be 550 square feet large, will feature a Jacuzzi, and will be capped by four-inch-thick acrylic windows, which make up about 70 percent of the wall space. Fish feeders will fire food into the water to attract local wildlife. To prevent overfeeding, the system will be limited to a prescribed number of cartridges each day. Rate will start at $15,000 per room and they have already taken reservations.

Love the idea, but a little out of my price range in a hotel room. I guess the rich and famous might like it.

Update: Specifics of the two resorts had been mistakenly swapped and thus corrected. Thanks to Bruce Jones of [3] US Submarines for pointing that out.

[4] Via [Popular Science]