Istithmar World Chairman, Sultan Ahmed bin Sulayem, talks to journalists about plans to turn the Queen Elizabeth 2 into a 300-room hotel. Kamran Jebreili / AP

Slot machines in the casino aboard the Queen Elizabeth 2. Kamran Jebreili / AP

A woman passes a shop aboard the Queen Elizabeth 2 as Istithmar World, the Dubai state investment company that owns the ship, outlined plans Monday to turn the retired cruise liner into a 300-room hotel. Kamran Jebreili / AP

The skyline of Dubai is seen from the rear deck of the Queen Elizabeth 2. Kamran Jebreili / AP

The Queen Elizabeth 2 is seen at dock as Istithmar World, the Dubai state investment company that owns the ship, outlined plans Monday to turn the retired cruise liner into a 300-room hotel. Kamran Jebreili / AP