What's Happening?
The ownership of Höfði Lodge, a planned five-star hotel near Grenivík, North Iceland, has changed hands. The development company Ilidor Sarl has acquired the remaining shares, becoming the sole owner. The hotel, initially launched in late 2020, has faced
delays and rising costs, with its opening now scheduled for autumn, four years later than planned. Former shareholders Björgvin Björgvinsson and Jóhann Hafstein have taken full ownership of Viking Heliskiing and Scanic Guide, businesses they previously co-owned with Höfði Lodge.
Why It's Important?
The change in ownership of Höfði Lodge highlights the challenges faced by large-scale hospitality projects, including delays and budget overruns. The acquisition by Ilidor Sarl could provide the necessary resources and focus to complete the project, potentially boosting tourism in North Iceland. The hotel's emphasis on luxury and international guests aligns with efforts to attract high-spending tourists, which could have positive economic impacts on the region. The successful launch of Höfði Lodge could also enhance Iceland's reputation as a destination for luxury travel.
