From Iceland — Talks Of Hotel by Harpa Ongoing

Talks Of Hotel by Harpa Ongoing

Published March 1, 2013

Negotiations between the parties involved in negotiating the construction of a hotel at the Harpa concert hall are ongoing, following months of delays, RÚV reports.
Negotiations are taking place between Sítusar, a company jointly owned by the City of Reykjavík and the State, and investor, Interhospitality Holdings (owned by IKEA) who have been shy about investing in the Icelandic market with so many capital controls still in place in the country.
A deal was signed with World Leisure Investments last May to build a 262-room Marriot Hotel beside Reykjavík’s concert hall, presumably where there has been a massive gaping hole in the ground. Investors have been requesting additional time for weeks now, but Pétur J. Eiríksson is confident that negotiations with investors are back on track and that results can be expected next week.

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