Negotiations with the representatives of a Swiss investment company on the construction of a hotel next to the Harpa concert and conference center in the Reykjavík harbor area are well underway.
Harpa. Photo by Geir Ólafsson.
A Marriott hotel will be built there, becoming the country’s most expensive hotel with 270 luxurious rooms. The hotel, which will be at least four-star, is scheduled to open in 2015. The investment is estimated to cost approximately EUR 60 million (ISK 10 billion, USD 75 million) including the lot, Fréttablaðið reports.
For comparison, the value of the building facilitating Hilton Reykjavík Nordica is around ISK 3.5 billion (USD 27 million, EUR 22 million) including the lot.
According to Pétur J. Eiríksson, chairman of Austurhafnir, negotiations have taken place in the past days and are going well. It is hoped that agreements can be signed shortly.
The American hotel chain Marriott will operate the hotel under its brand name but the building will be owned by the Swiss company which made the highest bid to the lot next to Harpa, ISK 1.8 billion (USD 14 million, EUR 9 million).