Richard Branson reveals ambitious plans to build a hotel off the moon, following successful maiden flight with Virgin Galactic

Sir Richard Branson said building a hotel off the moon is something he has “always dreamt of” as he looks to the future after his maiden flight with Virgin Galactic.

The space tourism pioneer and billionaire astronaut said future customers can expect “a lot more spaceships,” from Virgin, eventually reducing the cost of a trip, the Daily Mail reports.

Currently it is thought a ticket to the edge of space with Virgin Galactic, replicating Branson's trip from Sunday, July 11, will cost about $250,000.

Sir Richard said Virgin Galactic's flights may not be the end of his work in space, as the firm plans to build craft that can fly higher and for longer.

Speaking of other dreams he wanted to pursue, he said: 'Whether one day we will build a hotel off the moon, which is something that I've always dreamt of, or whether we'll leave that to my children to do, we'll have to see.

Sir Richard said Virgin Galactic's flights may not be the end of his work in space, as the firm plans to build craft that can fly higher and for longer.

Speaking of other dreams he wanted to pursue, he said: 'Whether one day we will build a hotel off the moon, which is something that I've always dreamt of, or whether we'll leave that to my children to do, we'll have to see.

Branson hopes that following the 'landmark moment' that saw him launch from Spaceport America in New Mexico, the space tourism industry will grow at pace.

Amazon and Blue Origin found, Jeff Bezos, will become the second 'founder-billionaire' to go to space on his own firms vehicle on Tuesday, July 20.