New Icelandic hotel name has grand Nordic plans

by | 18 Nov 2022 | Portfolio

Photo by David Bayliss on Unsplash.

A new hotel operator, Legendary Hotels and Resorts, will be entering the Icelandic hospitality market over the next two years, with ambitious plans to construct, purchase or rebrand a portfolio of 12 hotels.

The first hotel has already been purchased in Southern Iceland, with a full rebrand to begin early in 2023.

Nordic expansion

The Reykjavik-based operator then intends to expand across the Nordic countries, opening its first hotels in Greenland, Norway and Denmark by 2024, before debuting in the Faroe Islands, Finland, and Sweden by the end of 2025. The overall target is 50 hotels comprising at least 8,000 rooms by the end of 2026.

Each venue will meet exacting corporate standards of luxury and convenience, including flexible check-in and check-out times, free high-speed wireless internet as standard, and a variety of amenities and home comforts.

Identifying opportunities

CEO and founder of Legendary Hotels and Resorts, Dmitrijs Stals, has 14 years’ experience in the hospitality industry, managing 18 hotels in Austria, Germany, and Portugal, along with an extensive portfolio of successful hospitality investments.

He detailed: “Now that the worst of the covid pandemic is behind us, we’re optimistic about the growth of the travel industry in the next five to 10 years and have identified a wide range of exciting opportunities for growth within Europe. We’re optimistic about the success of our new pan-European project, and are looking forward to surprising, and delighting our customers with beautiful spaces, total comfort, and superior service.”

First site

A project to create Iceland’s first family resort is currently in its final stages before approval. At a cost of several billions of krona, the site will launch by the close of 2023.

Transforming an existing hotel, along with over 50 ha of land, the family resort will be located in southern Iceland, in close proximity to several major tourist attractions. With onsite stables, a large riding arena, and zones for equestrian sports, the resort will have attractions including mini-golf, an ice-rink, table tennis facilities and a shooting range.

Rest and relaxation

For rest and relaxation, there will also be a cinema with a line-up of movies, food and blankets, a spa with facilities including cryosaunas, hot tubs, a gymnasium, and yoga rooms, and a playground and dedicated childcare facilities for children. Teenagers will also get their own graffiti wall.

Legendary is hoping for an average of 30-40% local visitors, with international tourists making up the rest of the hotel’s population. The average stay should reach up to five nights.

Stals added: “From all at Legendary Hotels and Resorts, we’d like to extend our sincere thanks to the municipality of Iceland for their welcoming, and supportive approach to this, and our other projects across the country. This is an exciting project, with many benefits to Icelandic and other families. We can’t wait to launch the resort, which will stand shoulder to shoulder with the world’s finest.”

Related Articles

Virgin restructures hotel divisions

Virgin restructures hotel divisions

Luxury lifestyle hospitality brand Virgin Hotels and Virgin Limited Edition, the private global collection of unique retreats, hotels and exclusive islands owned by group founder Richard Branson, are coming together with the intention of changing the firm’s luxury...

LOTTE HOTEL WORLD re-opens TOH LIM the CANTON TABLE

LOTTE HOTEL WORLD re-opens TOH LIM the CANTON TABLE

Previous Next Scouted Chinese chefs present the essence of Cantonese cuisine Provides special service such as tea performance by tea sommelier LOTTE HOTEL WORLD newly opened its Chinese restaurant, TOH LIM the CANTON TABLE from January 1st, 2023. Opened in 1988, LOTTE...

Ace Hotel snapped up by ambitious hospitality group

Ace Hotel snapped up by ambitious hospitality group

The Ace Hotel brand will now become part of the Portland, USA-headquartered Sortis group, which aims to double its hotel footprint by 2025. Major deal The US$85 million all-cash transaction is expected to close at the end of Q1 2023, subject to customary closing...

Accor signs 13 sites for new Handwritten Collection

Accor signs 13 sites for new Handwritten Collection

The ‘midscale plus’ line completes the group’s boutique collection brand portfolio, following upper upscale MGallery and the luxury Emblems Collection. Easy conversions Focused towards experience-seeking Millennial travellers, Handwritten Collection properties will...

Sonesta opens The James brand to franchising

Sonesta opens The James brand to franchising

The luxury boutique hotel line will now offer franchisees a high-end lifestyle option in major urban and resort destination markets. New York prototype Currently, The James Nomad, New York is the prototype for future properties under its licence agreement. Sonesta...

Marriott rolls out new Fairfield template for European expansion

Marriott rolls out new Fairfield template for European expansion

The new 136-guestroom prototype modular hotel has been developed to reflect the principles of European architecture and design, and to deliver fast and adaptable construction using advanced offsite manufacturing technology.  Quicker build Marriott estimates that the...