The world's costliest hotel is the Emirates Palace located in Abu Dhabi and owned by the government of Abu Dhabi. The estimated cost of the hotel is rumored to be a whopping $3.8 million. The architects describe it as the Taj Mahal of the Middle East. It would take more than an hour just to walk around the hotel. The 16 palace suites cost $15,200 a night. For lesser mortals there are cheaper rooms at $1805 a week!