The world financial crisis and stem of tourism to Dubai may alter or postpone the plans to convert the Queen Elizabeth II into a floating luxury hotel, according to online shipping publication Maritime Matters.
The former Cunard liner was sold to Istithmar, a wholly owned company of the Dubai government, which planned to convert the liner into a luxury hotel off of Palm Jumeirah, the world's largest man-made island.
Istithmar’s parent company, Dubai World, has since laid off 100 people, about 10% of staff.
According to Maritime Matters ship historian Peter Knego, a best-case scenario is that the ship becomes a hotel in its present condition rather than undergoing a multimillion-dollar renovation.
But the ship could also end up like many others -- in a scrap yard.
"Purists and fans of the QE2 might have reason to rejoice, at least for now, in that the owners are considering opening the ship ‘as is’," reports Knego. "Other options would include selling the ship for scrap, although not until public interest in the project has diminished."