English translation: Valhalla (the home of the Nordic gods)
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Explanation: The banquet hall of Odin, where fallen warriors feast until the so-called "twilight of the gods" and the cosmic battle between them and the frost giants. It supposedly has 540 doors, from each of which 800 warriors will emerge for the final battle (allusion to cosmic numbers and calendar schemes found all over the Indo-germanic world).
Thesis on ancient astronomy + Santillana & von Dechend.
Parrot Spain Local time: 16:49 Native speaker of: English
Explanation: ...if you must have a literal translation showing how the norse word is derived from "val-" as in "valferd" (Engl., pilgrimage) and "halla" or (Engl., the hall.)
However, as stated by your first respondent, this is a proper name. To the sensibilities of many Anglo-Saxons and other non-nordic folks schooled in the classics of the "Western Canon" but relatively unfamiliar with Norse mythology, Valhalla might be considered somewhat analagous to Mount Olympus--
although by "hall," the name refers to a long and narrow dwelling or meeting place as is known to present-day archaeologists to have been common in Scandinavian settlements during, for example, Viking times.