Poseidon Undersea Resorts

In trying to develop an underwater hotel, Poseidon Undersea Resorts has run into some setbacks but is moving forward. Founder Bruce Jones had problems negotiating real estate in the Bahamas and in 2006 switched locations to a private island in Fiji. The new site includes a lagoon, an airstrip, 21 beachfront bungalows, and an underground power system but has necessitated some changes in the hotel's design. (Instead of a tunnel leading from the beach, the new plan calls for an elevator that will descend from the surface.)

The hotel's business model has also changed. Jones initially wanted to charge about $1,500 a night, but guests will now book all-inclusive, week-long packages for $15,000 a person (including a submarine pilot training class; Poseidon also designs tourist subs). Jones hopes to open in June 2008.