Back in December 2019, Hyatt Hotels Corporation made a big announcement — plans for a brand-new Hyatt Centric property in Iceland. The Hyatt Centric Reykjavík was expected to debut in 2022, marking the brand’s first hotel in the country.
At the time, Hyatt said the hotel would offer 169 guest rooms, three food-and-beverage options, meeting space, and a rooftop bar overlooking the city — the kind of lifestyle property that feels like it was designed for Reykjavík’s mix of city breaks and “let’s go chase waterfalls” road trips.
Initial Plans
The Hyatt Centric Reykjavík was announced for Laugavegur 176, right on Reykjavík’s main street, as a redevelopment of the former headquarters of the Icelandic National Broadcasting Service. Hyatt positioned it as a hotel that would be walkable to the city center, but also a convenient “home base” for travelers heading out into the countryside.
In other words, a perfect first move for Hyatt in a country where most major chains already had a foothold.
And then…
So, what happened?
The Impact of the Pandemic
Like many projects that were supposed to open in the early 2020s, this one ran headfirst into reality.
In September 2022, the hotel’s developer, Reitir, posted an update explaining that the parties had agreed to postpone design and construction due to COVID’s impact on travel — and that in April 2022, they decided to move forward again with a plan aiming for an opening towards the end of 2024. Here’s the original post (in Icelandic).
At the time, that sounded like the project had finally found its second wind.
So… Is It Opening In 2026?
Hyatt hasn’t forgotten about this hotel — the company has mentioned the Hyatt Centric Reykjavík in more recent communications, which is a good sign the project is still alive.
That lines up with reports you’ve probably seen elsewhere (including this Iceland Travel News write-up and ongoing discussion on FlyerTalk).
But after multiple delays, any target year should come with an asterisk. If you’re planning an Iceland trip, assume it’ll open when it opens — and don’t count on “2026” being set in stone until Hyatt actually posts a live hotel page and starts taking reservations.
Where To Stay In Reykjavík Instead (For Now)
The good news is that Reykjavík isn’t exactly lacking in quality hotel options.
If you’re looking for major-chain properties, you’ve already got standouts like:
- The Reykjavík EDITION (Marriott Bonvoy)
- Konsulat Hotel (Hilton Curio Collection)
And of course, Iceland is still one of those destinations where independent hotels can be just as interesting (sometimes more so) than the big brands.
Will The Hyatt Centric Reykjavík Ever Open?
At this point, it still feels like an “eventually” project — not an “any day now” opening.
Hyatt continues to reference the hotel, which is a good sign it hasn’t been scrapped. But after years of shifting timelines, I wouldn’t treat any target date as set in stone until Hyatt is actually taking reservations.
Time will tell.
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