Hyatt Hotels Corporation 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 first Hyatt branded hotel in Iceland. Expected to debut in 2022, the 169-room Hyatt Centric Reykjavík will bolster Hyatt’s lifestyle portfolio and the Hyatt Centric brand’s presence in Europe.
The hotel will offer modern accommodations, three food and beverage outlets, including a pop-up rooftop bar overlooking Iceland’s dynamic capital city, and approximately 2100ft² of meeting facilities. With a high proportion of adventurous travellers exploring the Icelandic countryside, Hyatt Centric Reykjavík will boast its own car park for guests to use. Located on Laugavegur, the main street of Reykjavík, the scheme will enjoy easy access to public transport.
“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, senior vice president 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.”
“We are thrilled to be working alongside Hyatt to bring the first Hyatt hotel to Iceland and the Nordics as a whole. Our experience in the Icelandic market and Hyatt’s unique, personalised approach to development is the perfect combination to develop a distinct offering in the city,” said Guðjón Auðunsson, CEO of Reitir fasteignafélag hf. “With travellers staying in Iceland for an average of five to eight nights all year round, Hyatt Centric Reykjavík will be the ideal base for guests wanting to enjoy a lifestyle hotel whilst taking in the stunning scenery, whether on a hike in summer or while viewing the Northern Lights in winter.”
