Today techs Continuation of the transformation of Laugavegur 176 right into a lodge

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Reiter entered into an settlement with Hyatt Inns Company for the operation of a lodge within today techs the firm’s property at Laugavegur 176 in December 2019, as reported in a inventory alternate announcement on the time, see right here.

In direction of the top of 2020, the events agreed to droop design and building and delay the deliberate today techs opening time of the lodge till strains had been clearer relating to the event of the Covid-19 pandemic because of its influence on journey world wide. In April 2022, it was determined to proceed with the challenge, and Reita’s administration has now confirmed a today techs brand new plan which assumes that the lodge can open in the direction of the top of 2024.

Reita’s funding within the reconstruction of the today techs property, as its proposed design is now, is estimated at over 5 billion ISK. That price will principally be incurred within the 12 months 2024 and can principally be financed with credit score.

Data is offered by Guðjón Auðunsson, CEO of Reita, on tel. 660 3320 and on the e-mail deal with gudjon@reitir.is

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