Icelandair in Talks to Sell it’s Hotel Division

By Dev Anand | 8 April 2019

Main Photo: The Reykjavik Konsulat Hotel

Date: April 2019

Location: Across Iceland

Name: Hilton, Edda Hotels and others

No. of Keys: 1,629

Seller: Icelandair, which has eight properties, operates two Hilton hotels, and runs a further eight seasonal hotels.

The hotels are at key locations on the ring road around Iceland.

The Edda Hotels chain, a string of summer hotels, offers good and economical choice, offering both en-suite rooms and sleeping bag accommodation.

Their Hilton properties, the Hilton Reykjavik Nordica, the newly opened Reykjavik Konsulat Hotel, Curio Collection by Hilton and Canopy by Hilton, Reykjavík city centre, are a high-end along with Reykjavik Marina Residence, situated in the oldest part of Reykjavík.

The reconstruction of the building, which in the 19th and 20th century housed a grand department store run by Consul Thomsen and his family, was completed in March 2018 with modern amenities and a nod to Reykjavík’s vibrant culture.

The total number of rooms within the Icelandair Hotels Group is 1,629 rooms located all around Iceland. 790 in Reykjavik and a total of 839 rooms in the countryside.

Buyer: Negotiations with a preferred bidder assume Icelandair will retain a 20% stake in the business. The company expects to finalise the deal in the second quarter.

THPT Comment: In the Beginning (1970s)…Airlines owned hotels to help international (American) travellers feel safe and comfortable when travelling overseas…PamAm owned InterConti, TWA owned Hilton outside of the USA, JAL owned Nikko hotels, Air France owned Le Meridien, Swissair owned Swissotel, United Airlines owned W/Westin and on and on! All good things come to an end.

First Seen: Icelandair website

The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market.

For more information – Visit www.thpt.co.uk or email info@rrh.hmf.mybluehost.me.

Posted in Recent Deals