IHG Hotels & Resorts – one of the world’s leading hotel companies – has announces its first signing in Iceland for its midscale long stay brand Candlewood Suites, by IHG.
Signed as part of an agreement with ALVA Capital, IHG will look to develop up to 500 rooms in the city or wider Iceland over the next three to five years introducing some of IHG’s leading brands, including Holiday Inn Express and Garner Hotels, to the Nordics.
Expected to open in the near future, the landmark signing in Reykjavik joins 13 open and pipeline properties in the Nordics, including the re-entry of IHG in Sweden last year with the opening of voco Stockholm – Kista, Crowne Plaza Copenhagen Towers in Denmark and the Hotel Indigo Helsinki in Finland.
Iceland presents a compelling next step in IHG’s regional footprint as the country has seen a dramatic surge in tourism over the last decade. Thanks to a unique blend of natural wonders and urban appeal, the country is now welcoming approximately 2.3 million international visitors annually – a figure that exceeds the national population of around 400,000 people by more than fivefold.
Located in the city centre of Reykjavik in the Hlíðar district close to city’s main pedestrian shopping street, the property will offer convenient access to a number of tourist attractions, including the contemporary Kjarvalsstaðir Art Gallery, The Icelandic Phallological Museum and Sundhöllin Public Baths – all of which are within easy walking distance.
The 53 key property will be a conversion of a former office building and will offer guests casual, reliable, and spacious studios and apartments equipped with kitchens. This provides guests the personal and physical space they need to not just stay comfortably but feel at home.
Willemijn Geels, Vice President, Development, Europe, IHG Hotels & Resorts, commented: “We are looking forward to introducing the Candlewood Suites brand to the Nordics with the signing of Candlewood Suites Reykjavik in Iceland, an exciting emerging market for IHG.
“We are especially proud of the swift collaboration between IHG and our esteemed partners at ALVA, who have successfully signed and already begun the conversion to open this property in the near future. ALVA has an established presence in Iceland and this deal holds great potential for IHG to grow across the country with a well respected partner and I am truly excited to see what’s to come.”
