Year: 2025

Icelandic investment and development company Alva Capital has signed an agreement with international hotel chain IHG Hotels & Resorts to open the first Candlewood Suites apartment hotel in the Nordic region in Reykjavík. The hotel will be located at Rauðarárstígur 27, the former site of the Ministry of Foreign Affairs.

IHG Hotels & Resorts (IHG), one of the world’s leading hotel companies, announces its first signing in Iceland for its midscale long stay brand Candlewood Suites, by IHG. Signed as part of an agreement with ALVA Capital, IHG will look to develop up to 500 rooms in the city or wider Iceland…

Alva Real Estate purchased commercial premises at Rauðarárstígur 27 and part of a car park from Eik for a total of 820 million.