In Brief: IHG Hotels & Resorts has signed a 90-room Holiday Inn Express hotel at the Valhöll property in Reykjavik, with an opening expected in the second half of 2027.
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Rendering of the Holiday Inn Express Reykjavik – Valhöll – Image Credit IHG Hotels & Resorts
IHG Hotels & Resorts has signed Holiday Inn Express Reykjavik – Valhöll with ALVA Capital. The hotel is expected to open in 2027 and become IHG’s second property in Iceland, following the opening of Candlewood Suites Reykjavik.
The 90-room hotel will be located at Háaleitisbraut 1 in Reykjavik, within the Valhöll property. The site is visible from the main airport route and is near Hallgrímskirkja, the city center, and the leisure and business districts.
Holiday Inn Express Reykjavik – Valhöll will use the brand’s Generation 5 design, including social spaces for guests to connect, work and unwind.
The signing follows a development agreement between IHG and ALVA Capital signed in 2025. The agreement included plans to develop up to 500 rooms across Reykjavik and the wider Icelandic market.
Candlewood Suites Reykjavik, the first hotel signed by IHG and ALVA Capital, is now open.
Holiday Inn Express Reykjavik – Valhöll is included in IHG’s portfolio of 15 open and pipeline properties in the Nordics. As of Sept. 30, 2026, IHG also had more than 50 Holiday Inn Express properties in development across Europe.