Viad to Invest in Lagoon in Kópavogur

The international company Viad plans to invest USD 11 million in a geothermal lagoon and spa to be built on the ocean-front in Kópavogur, just south of Reykjavík, scheduled to open in 2021, Morgunblaðið reports.

The geothermal baths will have a view of the ocean and of the presidential residence at Bessastaðir.

With this investment, the company acquires a 51 percent controlling stake in the Icelandic entity Geothermal Lagoon ehf, that will operate the new lagoon. According to thinkgeoenergy.com, Geothermal Lagoon ehf is also the developer and the owner of the lagoon property. Pursuit, a subsidiary of Viad with expertise in building and operating world-class attractions, will manage all aspects of the guest experience.

Viad is an experiential services company with two business units: GES and Pursuit, the former being a live events company, the latter focusing on travel experiences in iconic places.

In 2017, Viad Corp acquired a majority stake in the Icelandic company Esja Attractions and is currently in the process of constructing FlyOver Iceland on Fiskislóð in Reykjavík, scheduled to open soon. 

FlyOver Iceland will be a virtual flight ride theater, modeled after FlyOver Canada. FlyOver Iceland will offer guests virtual flight experience over some of the country's most spectacular scenery.