Carpenter & Company are the leading investor in the project and have bought the building rights. After construction the operations of the hotel will be put in the hands of leading global hotel operator. Carpenter is an accomplished hotel developer in the US with projects operated by St. Regis, Marriott, Four Seasons, Hyatt and Starwood.
Construction is expected to begin in late 2015 and the hotel is to open in early 2018.
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%.
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