To try to make it happen, Houston-based Axiom and the UK Space Agency have inked a memorandum of understanding.
Although the project is expected to cost at least £200 million, it is intended to be financed through commercial means. UK taxpayers would not make a contribution.
Speaking with businesses and organizations interested in offering funding, Axiom informed the BBC that talks were already under progress.
Tim Peake, a 2015 European Space Agency (Esa) astronaut, was the last person from the United Kingdom to enter space.
“This is an exciting opportunity and actually unique,” said he.
“This is the first financially successful ‘national mission’ undertaken by anyone. It’s a novel approach that will shape the way we use space in the future.”