A Hyatt Hotels Corp. affiliate entered into a franchise agreement with H176 Reykjavík ehf, a unit of Icelandic real estate company Reitir fasteignafélag hf, to launch a Hyatt Centric-branded hotel in Reykjavík, Iceland.

The former Icelandic National Broadcasting Service headquarters along Laugavegur Street will be redeveloped into the 169-room Hyatt Centric Reykjavík, which is slated to open in 2022.