Three 17th-century buildings just 100 yards from the main palace of Versailles will be renovated and converted into a luxury hotel.

The renovation is expected to cost at least $7 million. Dips in funding for the state-owned Chateau de Versailles has the popular site needing to increase revenue.

More than seven million people visit Versailles each year to stroll the magnificent gardens, view art, and revel in the opulence of kings. The tentatively-named Hotel de l'Orangerie will allow overnight guests unique access to the grounds..

"This is an emblem of French history and a cultural landmark. It will be an authentically royal experience," said a palace spokesman of the new hotel.