If you are not familiar with Bigalow Aerospace, they are building inflatable space stations. They have two sub-sized, pressurized stations in orbit right now. Their target market is national space programs for countries that can't afford to build everything themselves -- they can lease a Bigalow station. I think this is a pretty good way to get started on orbital hotels.
Bigalow's plans will not work without some kind of private, commercial human launch capacity, the kind that President Obama is trying to create. See Obama's Brilliant Space Policy for details.