New York (CNN) Atari might be best known for 1970s video games and its money problems, but now the brand is opening its own chain of branded hotels. The first one, in Phoenix, Arizona, will start construction in early fall, and should be finished in about two years.

The hotels will feature spaces for virtual reality and augmented reality, studios for streaming games and venues for throwing esports events, according to a press release

Some of the rooms will have a retro style while others could be inspired by "Ready Player One," Shelly Murphy, CEO of GSD Group, told CNN Business.

Murphy said GSD partner Napoleon Smith III suggested one day, "I wonder what Atari is doing... 'how cool would it be to stay in an Atari hotel?'"

Murphy described spaces set up with ten gaming consoles where parents can host parties for kids. She said that the hotels would be affordably priced, but offer some premium options for people who might want to host a video game slumber party, for instance.

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