A 700-foot floating hotel, which resembles the Thunderbird 2 from the 1960s television series, "Thunderbirds", has been set for development, a report said.

The Manned Cloud is a flying hotel that is intended to carry 40 guests around the world while floating at an altitude of 18,000 feet, the Daily Mail reported Saturday.

"The Manned Cloud permits you to explore the world without leaving a trace. Passengers can experience spectacular and exotic places without being intrusive or exploitative," a spokesman said.

The structure — which is being built by the French Company Massaud — will have 20 bedrooms, a restaurant, gym, lounge and library, the newspaper said.

The Manned Cloud is set to take off for the first time in 2020.