Hyatt plans Iceland debut

The new Hyatt Centric Reykjavík (Iceland) will be situated on Laugavegur, the city's main street. Photo credit: Getty | E+ | borchee

An affiliate of Hyatt Hotels Corp. has entered into a franchise agreement with H176 Reykjavík ehf, a fully owned subsidiary of Icelandic real estate company Reitir fasteignafelag hf, to open the Hyatt Centric Reykjavík, the first Hyatt-branded hotel in Iceland and the Nordic region as a whole.

When it opens in 2022, the hotel will have 169 rooms, three food-and-beverage outlets (including a pop-up rooftop bar overlooking the city) and approximately 2,100 square feet (200 square meters) of meeting facilities. 

The hotel will be situated on Laugavegur, the main street of Reykjavík, located east of the city center in an area seeing rapid growth. The building will be a redevelopment of what locals know as the former headquarters of the Icelandic National Broadcasting Service. The property will be a 40-minute drive from Iceland’s main international airport and a 10-minute walk to the city center.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

“Over the past year we have spent a great deal of time understanding the Nordic market and getting to know the hotel developers and owners in Iceland. Hyatt Centric Reykjavík will mark the first Hyatt hotel in Iceland, an important milestone for us,” said Peter Norman, SVP of development, Hyatt. “Hyatt Centric Reykjavík not only demonstrates our unprecedented growth in the upscale lifestyle segment in Europe, but also our commitment to expand Hyatt's brand footprint in a market currently dominated by independent, regional players.”

Hyatt Centric Reykjavík will join the growing Hyatt Centric portfolio in Europe with the Hyatt Centric La Rosière in Les Eucherts, France; the Hyatt Centric Milan Centrale; the Hyatt Centric Murano Venice in Italy; the Hyatt Centric Gran Via Madrid; the Hyatt Centric Levent Istanbul and the newly opened Hyatt Centric The Liberties Dublin.

Suggested Articles

Guy Hutchinson, acting CEO, Rotana Hotels, has been promoted to serve as the group’s president & CEO.

The UN World Tourism Organisation reported that 1.5 billion international tourist arrivals were recorded globally last year, up 4% on 2018.

David Batchelor describes the shift to adjacent spaces as 'here to stay'