Rio Olympics organizers are making plans to open their new Olympic Village to the public in time for the games, with a goal of bringing in $1.5 billion.
Rio officials are set to release a budget for the village later today.
Rio Mayor Eduardo Paes has called the hotel “the first of its kind” in the city.
The plan calls for a total of about 1,500 apartments to be available for guests to rent at a cost of about $250 a night.
The village is expected to be open to the general public from June 7 to July 11.
Guests will have the option of paying in cash for rooms, but will be given the option to pay in Rio de Janeiro’s currency, the Brazilian real, for the hotel.
The budget also includes a number of other initiatives.
The city is considering offering free bus passes to residents and tourists.
The mayor said that the program will cost about $400,000 a year.
The hotel is also looking at opening an outdoor concert hall, which will be located in the village.
Guests could stay there until July 8, but a date for that date hasn’t been set.
A similar outdoor concert was held at the Rio Olympic Stadium on July 5, which is scheduled to host the opening ceremony of the games.
There are currently about 600 people living in the stadium, but there are plans to add another 400 guests this week.
The arena is set to host another 100,000 spectators for the opening ceremonies.
Rio will host the Games on Aug. 5 and Aug. 9, and then the final games are scheduled for Aug. 20.