IHG strengthens Nordic portfolio with the signing of Holiday Inn Express Reykjavik – Valhöll

IHG Hotels & Resorts (IHG), one of the world’s leading hotel companies, has announced the signing of Holiday Inn Express Reykjavik – Valhöll, further strengthening its Nordic portfolio and marking its second property in Iceland following the opening of Candlewood Suites Reykjavik. Signed with ALVA Capital, the hotel builds on the companies’ growing relationship and their shared ambition to expand quality branded hospitality across Iceland.

Expected to open in the second half of 2027, the 90-room hotel will be located at Háaleitisbraut 1 in Reykjavik, in the well-known Valhöll property. With strong visibility from the main airport route, positioning it well for international and domestic travellers. Guests will be within easy reach of Hallgrímskirkja, one of Reykjavik’s best-known landmarks, as well as the city centre and its key leisure and business districts.

The hotel will feature the brand’s latest Generation 5 (Gen 5) design, which creates flexible, experiential environments that attract and excite today’s travellers, encouraging guests to connect, work and unwind in intuitive social spaces. This next-generation design reinforces the brand’s commitment to delivering simple, smart travel with enhanced comfort, connectivity, and functionality.

Willemijn Geels, Vice President, Development, Europe, IHG Hotels & Resorts, said: “We are delighted to strengthen our partnership with ALVA Capital and bring Holiday Inn Express to Reykjavik, marking our second property in Iceland. With its trusted guest proposition and strong international recognition, the brand is well placed to meet demand from travellers looking for a simple, smart and comfortable stay. This signing is another important step in growing IHG’s presence in Iceland, and we look forward to working with ALVA Capital to bring the hotel to life.”

The signing marks the next step in IHG’s relationship with ALVA Capital and supports the companies’ strategy to develop multiple hotels in Iceland. IHG and ALVA Capital signed a development agreement in 2025 with plans to develop up to 500 rooms across Reykjavik and the wider Icelandic market.

Skorri Rafn Rafnsson, Founder and CEO of ALVA Capital, said: “We signed our first hotel with IHG at EXPO REAL a year ago, and Candlewood Suites Reykjavik is now open. Returning to Munich earlier this month to sign our second hotel together was another important milestone in our partnership. This latest signing forms part of our wider hotel development pipeline in Iceland and brings us closer to our shared ambition with IHG to develop up to 500 rooms. We are delighted with how the partnership has grown and see significant opportunity ahead.”

Holiday Inn Express is designed to help travellers rest and recharge, offering a consistent and straightforward experience for guests on the move. The new hotel will further diversify Reykjavik’s internationally branded hotel offer and offer visitors from key markets, including the United States and the UK, a familiar hotel brand.

Holiday Inn Express Reykjavik - Valhöll joins a growing portfolio of 15 open and pipeline properties in the Nordics, as well as more than 50 Holiday Inn Express properties in development across Europe.

*Numbers as of 30 September 2026.

IHG Hotels & Resorts (tickers: LON:IHG for Ordinary Shares; NYSE: IHG for ADRs) is a global hospitality company, with a purpose to provide True Hospitality for Good.

With a family of 21 hotel brands and IHG One Rewards, one of the world’s largest hotel loyalty programmes with over 160 million members, IHG has more than one million rooms across 7,100 hotels in over 100 countries, and a development pipeline of a further 2,400 properties.

• Luxury & Lifestyle: Six Senses, Regent, InterContinental, Vignette Collection, Kimpton, Hotel Indigo
• Premium: Noted Collection, voco, Ruby, HUALUXE, Crowne Plaza, EVEN
• Essentials: Holiday Inn Express, Holiday Inn Hotels & Resorts, Garner, avid
• Suites: Atwell Suites, Staybridge Suites, Holiday Inn Club Vacations, Candlewood Suites
• Exclusive Partners: Iberostar Beachfront Resorts

InterContinental Hotels Group PLC is the Group’s holding company and is incorporated and registered in England and Wales. Approximately 400,000 people work across IHG’s hotels and corporate offices globally.

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Founded in 2012 by Skorri Rafn Rafnsson, ALVA Capital is a diversified investment and development group headquartered in Reykjavík, Iceland. With deep roots in fintech and technology, ALVA Capital has built and scaled several industry-leading ventures – among them Netgiro, Inkasso and Moberg – and achieved notable exits in those sectors.

Since 2020, ALVA Capital has expanded its strategic focus into real estate and hospitality, directing its capital and operational expertise towards the acquisition, development, ownership and operation of residential, hotel and mixed-use properties. ALVA Hotels, the group’s dedicated hotel operating company, operates a growing portfolio of hotels in Iceland, while ALVA Capital has a growing pipeline of hotel and hospitality projects in development across the country. Through its other group companies, ALVA Capital also owns real estate assets in Iceland, holds real estate investments in the United States, retains ownership of Inkasso and holds additional investments.

ALVA Capital employs a data-driven investment philosophy, emphasising long-term value creation across its operating businesses, investment portfolio and real estate platform. The group continues to invest across Iceland and internationally, combining capital, operational expertise and technology to grow its holdings and businesses. For more information, visit www.alvacapital.is.