So, if you haven’t been following news from outer space lately, here’s an update.

Last year, Galactic Suite Limited established itself as a private corporation dedicated to pioneering the space tourism industry. Shortly thereafter, Galactic Suite announced that it would be devloping “orbital resorts” in space, with rooms available to deep-pocketed tourists (the cost is $4 million USD for three nights) as early as 2012.

Travelers buying a space travel package will start their 18 week vacation on a tropical island–not yet identified–where they will receive training that simulates that received by astronauts. With the training under their belts, travelers will then be launched into space, where they’ll confirm whether Galactic Suite’s sales pitch is true: Watch a sunset 15 times a day. Orbit the world in 80 minutes.

Earlier this week, Galactic Suite announced that it already has some reservations, and that everything’s on track for the official opening in 2012.

What do you think about space tourism? Would you sign up for a Galactic Suite trip if you had the money? Share your thoughts below.

Feature photo: Carmelo Aquilina (creative commons)