“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.”

 

Hyatt Hotels Corporation (NYSE: H) entered into a franchise agreement with Icelandic real estate company Reitir fasteignafelag hf according to the official press release. 

 

The Hyatt Centric is a brand of full-service lifestyle hotels, located in prime destinations. Hyatt Centric Reykjavík will offer modern accommodations, three food and beverage outlets, including a pop-up rooftop bar overlooking Iceland's capital city, and ameeting facilities.