I have no problem with money being spent on advancing technology and all that jazz, but floating hotels is somewhere near the bottom of the importance pile. Stick to potentially important stuff please (i.e. stuff that has use beyond "ooh I can see through the floor to the ground way below, how kewl") and spend the money spent on shit like this on starving people or something.
True, I agree, but you say it as though the government is prioritising funding in hotels, which isn't so. This is a private company setup for this purpose, there was no decision between hotels and saving cancer. There are companies and government bodies working on important things too. It's not an "only one" situation, we can have as many things we want, so long as there are people to cater it.
The argument that they should have started a more useful company doesn't make sense. You could say to most companies that they're useless and should have started a company in saving us from cancer or something.
This is an entirely private project.