IHG Hotels & Resorts has announced the signing of its first property in Iceland through its extended stay Candlewood Suites brand.
The UK-based hotel giant said that the 53-room Candlewood Suites Reykjavik in the centre of the Icelandic capital would open in the “near future” and would be the brand’s first property in the Nordic region.
The signing is part of a wider agreement between IHG and investment company ALVA Capital, which will see the hotel firm introduce other brands, such as Holiday Inn Express and Garner, to Iceland over the next three to five years.
The Nordic region is being targeted by IHG, which re-entered the Swedish market with the opening of voco Stockholm Kista in 2024. Other new properties in the Nordics include Crowne Plaza Copenhagen Towers in Denmark and the Hotel Indigo Helsinki in Finland.
Willemijn Geels, IHG’s VP of development, Europe, said: “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.
“ALVA has an established presence in Iceland and this deal holds great potential for IHG to grow across the country.”
Candlewood Suites properties, which are described as offering a “midscale aparthotel experience”, provide studios and one-bedroom suites with equipped kitchens and workspaces. They also offer self-service laundries, access to gym facilities and weekly housekeeping.
IHG, which acquired Candlewood in 2004, said it has nine properties due to open across Northern Europe in the coming years. The first Candlewood-branded aparthotel in Europe made its debut in Berlin earlier this year.