Galactic Suite??

Hey everyone,

I randomly stumbled across www.galacticsuite.com

I was instantly confused. They are a new company (based in Spain?) that plans to have an orbital resort in place by 2012. They will have a tropical island launch facility utilizing what are effectively rail guns to launch a new vehicle. Has anybody heard about this company before?? I certainly haven't. Check out the site and what not. I can't find enough information available there to understand their engineering behind everything though.

More facts I've found:
$3 billion invested by a single unnamed individual

Well, that's all I've seen so far. Comments? Thoughts? Concerns?