Directors of international hotel chain W Hotels are interested in finding a niche in the Icelandic market according to website Túristi.is. “We are optimistic that Iceland is one of the growing markets of the future although we have no information on ensuing steps,” said a press representative of the hotel chain.

W Hotels are owned by Starwood, one of the world’s biggest hotel companies which also runs chains such as Sheraton and Westin hotels.

A while ago the investors behind the hotel next to Harpa concert hall were discussing possibilites with W Hotels before deciding to sign a contract with Marriot hotels.

According to a report by the financial analyst department of Arion bank on the Icelandic travel industry, use of hotel rooms in Iceland is extremely good, or 84 % on average which is much highter than in London or Paris for instance. At times, use of hotel rooms has gone over 100 % which means that there has been a lack of rooms for tourists during high season. The financial analyst department says that it’s quite clear that more hotel rooms are needed in Iceland. The estimated increase in new hotel rooms in 2018 and 2019 are 1700 which is a 50 % increase.

Source: http://icelandmonitor.mbl.is/news/nature_and_travel/2015/10/03/w_hotels_interested_in_iceland/