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Marriott EDITION to open in Reykjavik

The new luxury 250 room boutique hotel, next to Reykjavik's award winning Harpa Conference Center and Concert Hall, will be a Marriott EDITION hotel.

The new luxury 250 room boutique hotel, next to Reykjavik's award winning Harpa Conference Center and Concert Hall, will be a Marriott EDITION hotel. 

Iceland’s first ever five-star hotel, to be built next to Reykjavik’s Harpa Concert Hall and Conference Centre, will be a Marriott EDITION hotel. EDITION is a true luxury-lifestyle brand, developed by Ian Schrager, that has achieved international recognition for concepts that have revolutionised the hospitality industry. Sandeep Walia, vice president for Marriott International Europe, said at the signing ceremony in Reykjavik, “Iceland is emerging as one of the most popular tourism destinations in the world for global travelers and we couldn’t be more excited to introduce our EDITION brand to this vibrant country.”
 
Ian Schrager, chairman and CEO of Ian Schrager Company, remarked, “I am thrilled to continue the global expansion of the new EDITION lifestyle brand with this incredibly exciting project in Reykjavik. The city is emerging as a fascinating cultural hub making it the perfect location for an EDITION.”
 
Carpenter & Company will be owner and developer of the new EDITION hotel. Richard Friedman, president and CEO said, “The location of this hotel couldn’t be more spectacular – with the hotel working in conjunction with the city’s well known Harpa center and its location steps away from the vibrant downtown of Reykjavik.”
 
Carpenter & Company and Icelandic Arion Bank finance the project along with local equity investors. Construction is expected to start early 2016 and the hotel to open in 2018.
 
EDITION Hotels have opened in New York, London, Miami and Istanbul. The emphasis is on rare individuality, authenticity, originality and unique ethos that reflects the best of the cultural and social milieu of its location and of the time, according to a statement announcing the new development in Reykjavik.

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Incentives

Iceland focuses on a favorable business environment, including low corporate tax, availability of land and green energy at competitive prices and efficiency within European legislative framework. New direct investment projects can apply for an investment agreement, ensuring generous regional incentives, including a corporate tax rate ceiling of only 15%.

Why Iceland

Along with having one of the lowest corporate tax rate in Europe, Iceland has a highly educated workforce which is ranked among the highest in the world, offers competitively priced renewable energy with an advanced infrastructure making Iceland an ideal location for investors