Another part of East Berlin's reconstruction program was the five-star "Palasthotel" (“palace hotel”) at Liebknechtbrücke. It was built between 1976 and 1979, based on a design by Ferenc Kiss. The hotel had 600 rooms with 1,000 beds and a conference hall with about 2,000 seats. It was closed for all East German guests, as one had to pay in a hard currency instead of the local East German mark. In 1992, the hotel was taken over by the Radisson group. It was demolished in 2000 to make room for the new DomAquarée, which was opened in 2003.