Here's one place where visitors are guaranteed to see superstars. It's Madame Tussauds Hollywood, the completion of which was celebrated by city officials with a ribbon-cutting ceremony on Tuesday.

The 55-million-US-dollar museum is located next to Grauman's Chinese Theatre on Hollywood Boulevard.

The newest Madame Tussauds location joins previously-opened sites in London, Amsterdam, Las Vegas, New York, Hong Kong, Shanghai, Berlin, and Washington D.C.

Glen Earkam said, "From our point of view, this is -- we're a brand that's about celebrity. And this is the home of celebrity, absolutely the home of celebrity," he explained. "You know, the history of the brand is about wax figures, and the excellent, brilliant figures we produce: Julia. And they're still absolutely at the heart of what we do. But we've become so much more than that. We've become a celebrity brand."

Celebrities represented by wax figures in the new museum include Elizabeth Taylor, Brad Pitt, Angelina Jolie, Justin Timberlake, and Britney Spears. The museum opens to the public on August 1st.