Gray Line Iceland
Gray Line Iceland is a Reykjavík-based tour operator, established 1989, offering 50+ day tours, airport transfers, coach rentals, and attraction packages to international tourists visiting Iceland via direct-to-consumer online booking and a branded pickup network.
- Company typePrivate
- Founded1989
- HeadquartersReykjavík, Iceland
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Gray Line Iceland does
Gray Line Iceland is a Reykjavík-based tour operator established in 1989, operating under the global Gray Line Worldwide brand (founded 1910) and the Icelandia parent organization. The company runs a direct-to-consumer booking platform at grayline.is, offering a catalog of more than 50 distinct day tours, combo tours, adventure tours, attractions, and transfer services targeted at international tourists visiting Iceland. Core products include Golden Circle sightseeing (e.g., ISK 11,899), South Coast excursions (ISK 16,899), Jökulsárlón Glacier Lagoon day trips (ISK 29,899), Northern Lights tours (ISK 9,499), geothermal spa packages (Blue Lagoon, Sky Lagoon, Secret Lagoon, Laugarás Lagoon, Reykjaböð), glacier activities (snowmobiling, hiking, kayaking), and adventure tours (ATV, horseback riding, volcano descent). Supporting services include Flybus airport transfers between Keflavík International Airport and Reykjavík, Hop-on-Hop-off city sightseeing, coach rental for groups, and resold third-party activities (whale watching, horseback riding, ATV).
The technology stack is a web-based booking platform with online reservations, email confirmation, and electronic ticketing. Tour operations are supported by the SmartBus pickup network using branded green mini-buses that collect passengers from 20+ bus stops and major hotels/guesthouses across greater Reykjavík. Audio guides are available in 10+ languages across tour categories. The physical footprint is anchored at the BSÍ Bus Terminal in central Reykjavík (open 4 AM–10 PM daily), with secondary presence at Keflavík International Airport and a business office at Klettagarðar 12.
The business model is entirely transactional / pay-as-you-go, with no subscription or recurring revenue. Revenue streams are Day Tours and Sightseeing, Airport Transfers (Flybus), Coach Rental, and Package/Custom Tours — each priced individually in Icelandic Króna with typical discounts of 15–20%. Free cancellation up to 24 hours before departure is standard across most tours. The customer base is composed almost entirely of individual international leisure travelers (40+ nationalities, 400,000+ annually as of 2019), with a smaller B2B channel for group, corporate, and accessible-mobility tours. Distribution channels include the owned website, BSÍ walk-in sales, hotel/guesthouse pickup, Keflavík Airport service, and digital marketing via Facebook, Instagram, YouTube, TripAdvisor, and content marketing through the company blog. The company holds VAKINN Gold Label environmental certification (2019) and Clean & Safe certification (2021), and won Gray Line Worldwide's Best Guide Experience Award in 2019.
Gray Line Iceland firmographics
Firmographics- Name
- Gray Line Iceland
- Legal name
- Gray Line Iceland
- Website
- https://grayline.is
- Company type
- Private
- Founded year
- 1989
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Gray Line Iceland is a Reykjavík-based tour operator, established 1989, offering 50+ day tours, airport transfers, coach rentals, and attraction packages to international tourists visiting Iceland via direct-to-consumer online booking and a branded pickup network.
- Ownership category
- akta.pro rank
Gray Line Iceland industry classification
Industry- Product category
- Tour Operator Services
- NAICS
- Tour Operators (561520), Scenic and Sightseeing Transportation (487), Charter Bus Industry (485510)
- SIC
- Transportation Services (4700)
- akta.pro primary industry
- Tour & Sightseeing Coach Charters (THAIAIAB)
- akta.pro secondary industries
- Escorted Coach & Bus Package Tour Operators (THAKADAA), Hotel & Resort Shuttle Services (THAIAFAC)
Keywords
Where Gray Line Iceland is headquartered
LocationHeadquarters
- HQ city
- Reykjavík
- HQ country
- Iceland
- HQ region
- Europe
Offices3 records
Markets served
Gray Line Iceland business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Infrastructure, Supply Chain
Revenue model
- Day Tours and Sightseeing: Gray Line Iceland generates revenue primarily through selling day tours including Golden Circle tours, South Coast tours, Northern Lights tours, volcano tours, adventure tours, and Blue Lagoon/Sky Lagoon package tours. Tours range from 2 hours to 14+ hours with prices varying by duration and inclusions.
- Airport Transfers: Economical and convenient airport transfer service (Flybus) between Keflavik International Airport (KEF) and Reykjavik City with free Wi-Fi. Luggage services included with baggage allowances.
- Coach Rental: Rental of various coaches (Mercedes-Benz and Scania brands) for short or long-term rental for groups of all sizes. Modern fleet with high safety and comfort standards.
- Package Tours and Custom Tours: Ready-made tour packages and custom tours tailored for groups, including expert guides and memorable travel experiences.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Pay-as-you-go | Golden Circle Tour Iceland - Classic Day Trip |
| One time/ perpetual license | Pay-as-you-go | South Coast Wonders - Carbon-Neutral Tour |
| One time/ perpetual license | Pay-as-you-go | Jökulsárlón Glacial Lagoon & Diamond Beach |
| One time/ perpetual license | Pay-as-you-go | Volcanic Wonders with Grindavik Visit |
| One time/ perpetual license | Pay-as-you-go | Sky Lagoon Saman Pass with Transfer |
| One time/ perpetual license | Pay-as-you-go | Northern Lights Tour |
| One time/ perpetual license | Pay-as-you-go | Inside the Volcano Tour |
| One time/ perpetual license | Pay-as-you-go | Hop On - Hop Off City Sightseeing 24 hours |
| One time/ perpetual license | Pay-as-you-go | Whales of Iceland Museum Admission |
| One time/ perpetual license | Pay-as-you-go | Child/Youth Fares |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels6 records
Gray Line Iceland product offering
Product offeringCore offering
Gray Line Iceland is a Reykjavik-based tour operator that provides scheduled day tours, multi-day combination packages, and airport ground transportation in Iceland. Its core products are the Flybus airport transfer service between Keflavík International Airport and Reykjavik, themed day tours (Golden Circle, South Coast, Northern Lights, Blue Lagoon, whale watching, glacier, lava, and snorkeling tours), and packaged combinations that bundle transfers, tours, and partner activities into single bookings. The company operates from the BSÍ central terminal and runs a fleet of coaches and specialized vehicles (including Superjeep transfers) for roughly 18,000 trips per year.
Product overview
Gray Line Iceland operates as a tour and travel booking platform offering a diverse portfolio of tour products and services primarily focused on Iceland experiences. The core offerings include over 50 distinct day tours, combo tours, adventure tours, attractions, and transfer services. Key product categories include Golden Circle Tours (classic sightseeing to Þingvellir, Geysir, and Gullfoss), South Coast Tours (waterfalls, glaciers, black sand beaches), Northern Lights Tours (seasonal Aurora Borealis hunting), Geothermal Spa Tours (Blue Lagoon, Sky Lagoon, Secret Lagoon, Reykjaböð), Glacier Tours (hiking, snowmobiling, kayaking), Adventure Tours (ATV, horseback riding, volcano visits), City Tours (hop-on hop-off, walking tours), and Attractions (Lava Show, FlyOver Iceland, Whale Watching, museums). Supporting services include Flybus Airport Transfer between Keflavík International Airport and Reykjavik, and Coach Rental for group transportation. The company functions as a licensed travel agency aggregator distributing tours through its website with optional pickup/drop-off services.
Differentiator
Problem solved
Functional benefit
Products and services
- Flybus Airport Transfer Scheduled airport ground transfer between Keflavík International Airport and Reykjavik's BSÍ terminal, with optional hotel drop-off. Designed for arriving and departing international travelers to Iceland.
- Golden Circle Classic Day Tour Full-day guided coach tour of Iceland's Golden Circle route, visiting Þingvellir National Park, the Geysir geothermal area, and Gullfoss waterfall. Targeted at first-time visitors to Iceland.
- Golden Circle Evening Tour Late afternoon and evening guided tour of the Golden Circle, designed to combine sightseeing with Northern Lights viewing in winter.
- Golden Circle & Secret Lagoon Golden Circle coach tour combined with a soak at the Secret Lagoon natural hot spring.
- Golden Circle & Snowmobiling Golden Circle coach tour with an added snowmobiling experience on Langjökull glacier.
- Golden Circle & Fridheimar Greenhouse Golden Circle coach tour combined with a visit to the Fridheimar greenhouse and an Icelandic horse show.
- Golden Circle & Laugarás Lagoon Golden Circle coach tour combined with a soak at the Laugarás Lagoon spa.
- Golden Circle & Sky Lagoon Golden Circle coach tour combined with a visit to the Sky Lagoon geothermal spa.
- Golden Circle & Kerið Crater Golden Circle coach tour with an additional stop at the Kerið volcanic crater.
- Golden Circle & ATV Adventure Golden Circle coach tour combined with an ATV (all-terrain vehicle) ride.
- South Coast Wonders Day Tour Full-day guided coach tour of Iceland's South Coast, including Seljalandsfoss and Skógafoss waterfalls and the Reynisfjara black-sand beach.
- South Coast & DC-3 Plane Wreck South Coast coach tour combined with a guided hike to the Sólheimasandur DC-3 plane wreck.
- South Coast & Hiking Tour South Coast coach tour with a guided hiking component along the coast.
- South Coast & Buggy Adventure South Coast coach tour combined with a buggy ride experience.
- South Coast & ATV Adventure South Coast coach tour combined with an ATV (all-terrain vehicle) ride.
- South Coast & Kayaking South Coast coach tour combined with a sea kayaking experience.
- South Coast & Reykjabóð Lagoon South Coast coach tour combined with a soak at Reykjabóð Lagoon.
- Northern Lights Classic Tour Evening guided coach tour departing from Reykjavik to view the Aurora Borealis away from city light pollution.
- Northern Lights & Boat Ride Combined Northern Lights viewing and a boat ride from Reykjavik harbor.
- Northern Lights & Superjeep Tour Northern Lights tour using a Superjeep to reach remote viewing locations off the beaten track.
- Northern Lights Small Group Tour Small-group Northern Lights tour offering a more personalized viewing experience.
- Blue Lagoon & Northern Lights Combo Combined Blue Lagoon visit and Northern Lights coach tour on the same evening.
- Blue Lagoon Premium & Northern Lights Combo Blue Lagoon Premium entry combined with a Northern Lights tour.
- Blue Lagoon Comfort & Northern Lights Combo Blue Lagoon Comfort entry combined with a Northern Lights tour.
- Blue Lagoon Private & Northern Lights Combo Private Blue Lagoon experience combined with a Northern Lights tour.
- Blue Lagoon Direct & Northern Lights Combo Blue Lagoon direct transfer combined with a Northern Lights tour.
- Sky Lagoon & Northern Lights Combo Sky Lagoon visit combined with a Northern Lights tour.
- Reykjanes & Sky Lagoon & Northern Lights Combo Tour of the Reykjanes peninsula combined with Sky Lagoon and Northern Lights.
- Whale Watching from Reykjavik Boat-based whale watching tour departing from Reykjavik harbor to observe whales in Faxaflói Bay.
- Puffin Watching from Reykjavik Boat-based puffin watching tour in the waters near Reykjavik.
- Lava Show Entry Ticket Entry ticket to the live Lava Show experience in Vík, where real molten lava is poured in a controlled environment.
- Lava Show & Raufarhólshellir Lava Tunnel Combo Combined Lava Show ticket and Raufarhólshellir lava tunnel visit.
- Snorkeling Between Continents (Silfra) Snorkeling tour in the Silfra fissure at Þingvellir, between the North American and Eurasian tectonic plates.
- Combo: Lava Tunnel, Blue Lagoon & Northern Lights Two-day combination package including a lava tunnel visit, Blue Lagoon entry, and Northern Lights tour.
- Combo: Golden Circle, Blue Lagoon & Northern Lights Two-day package combining Golden Circle, Blue Lagoon, and Northern Lights.
- Combo: Blue Lagoon, South Coast & Northern Lights Two-day package combining Blue Lagoon, South Coast, and Northern Lights.
- Combo: South Coast, Golden Circle & Reykjanes Two-day package combining South Coast, Golden Circle, and Reykjanes peninsula.
- Combo: Glacier Hike & South Coast Guided glacier hike combined with a South Coast tour.
- Combo: Golden Circle & Northern Lights Same-day combination of Golden Circle and Northern Lights tour.
- Combo: South Coast & Northern Lights Same-day combination of South Coast and Northern Lights tour.
- Combo: Sky Lagoon & Golden Circle Same-day combination of Sky Lagoon and Golden Circle tour.
- Combo: Snæfellsnes & Borgarfjörður Two-day package combining the Snæfellsnes peninsula and Borgarfjörður region.
- Combo: Landmannalaugar Highland Adventure Multi-day highland adventure tour to the Landmannalaugar area in Iceland's interior.
- Combo: Þórsmörk & Eyjafjallajökull Multi-day adventure tour to Þórsmörk valley and Eyjafjallajökull volcano.
- Iceland on Your Own (Flybus + Self-Drive) Self-drive package combining Flybus airport transfers with a rental car itinerary for independent travelers exploring Iceland.
- Coach Rental in Iceland Private coach rental service for groups, corporate events, conferences, and private tours within Iceland.
Quantifiable outcome
- 127 successful Northern Lights sightings out of tours in 2019
- +2 more outcomes
Companies that use Gray Line Iceland
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles3 records
Gray Line Iceland technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Gray Line Iceland partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and minor.
- SmartBuscoreSmartBus operates the pickup service for Gray Line Iceland using green mini-buses with the Grayline logo. They collect passengers from hotels, guesthouses, and designated bus stops, providing transportation to the BSÍ Bus Terminal for tour departures.
- Gray Line WorldwidecoreGray Line Iceland is part of Gray Line Worldwide, the world's leader in sightseeing tours founded in 1910. The brand operates thousands of tours and experiences in more than 700 locations spanning six continents. Gray Line Worldwide provides brand recognition and operational standards.
- VAKINN (Icelandic Tourist Board)coreVAKINN is the official quality and environmental system within Icelandic tourism, run by the Icelandic Tourist Board in cooperation with The Icelandic Travel Industry Association, Innovation Centre Iceland, and Icelandic Tourism Association. VAKINN provides certification and standards for quality and environmental performance.
- Reykjavik ExcursionsminorFor some combo tours like the Golden Circle & Hengill 90 minute ATV Tour, Gray Line transfers customers to Reykjavik Excursions for the Golden Circle portion of the tour.
- Íshestar (Horseback Riding)minorGray Line partners with Íshestar for Lava Tour horseback riding experiences. Íshestar provides the horses, stable facilities, and trained guides who speak multiple languages including English, Scandinavian, and German.
- Special Tours (Whale Watching)minorGray Line offers whale watching tours in partnership with Special Tours, departing from Reykjavik's Old Harbour. Options include Whale Watching Classic and Whale Watching Express tours exploring Faxaflói Bay.
- SafeTravel IcelandminorSafeTravel Iceland certification partner displayed on Gray Line Iceland website, ensuring compliance with safety and travel standards in Iceland.
- IcelandiacoreIcelandia appears to be the parent company/operating group for Gray Line Iceland. Multiple references throughout the website indicate Icelandia as the parent company ([email protected] for group travel inquiries, icelandia.com/career for job listings). Gray Line is branded as 'Gray Line Iceland by Icelandia'.
Scale indicators10 records
Recent moves6 records
Expansion highlights5 records
Gray Line Iceland competitors and assessment
Company assessmentBroad incumbents
- Viator (Tripadvisor): Viator is Tripadvisor's tours-and-activities marketplace. It is a major global distribution channel for Iceland tours and experiences, including Gray Line Iceland's offerings, and competes with the operator's direct booking through aggressive commission-driven pricing.
- GetYourGuide: GetYourGuide is a global OTA for tours, activities, and attractions. It resells Gray Line Iceland's products alongside many competitors, functioning as both a distribution channel and a structural disintermediation threat to the operator's direct booking model.
- Booking.com: Booking.com is the dominant European OTA that distributes Iceland accommodation and many tours/attractions. While not a tour operator itself, it shapes discovery and price discovery for the inbound tourist that Gray Line Iceland targets.
- TUI: TUI is one of the world's largest integrated tour operators and offers Iceland packages including coach tours and excursions. It competes for the same package-tour customer and benefits from volume procurement on hotels and transfers in Iceland.
Emerging players
- TourRadar: TourRadar is an OTA specializing in multi-day guided tours and small-group adventures. It distributes Iceland package tours from multiple operators including Gray Line, providing alternative discovery for the multi-day package customer segment.
Direct peers
- Reykjavik Excursions: Reykjavik Excursions is one of the largest Icelandic tour operators offering coach-based sightseeing tours, airport transfers and coach rental from Reykjavik. It is referenced in Gray Line's own materials as a partner for combo tours, indicating closely overlapping product, customer base, and competitive positioning.
- Special Tours Iceland: Special Tours operates whale watching and sea-angling tours from Reykjavik's Old Harbour. It is both a Gray Line partner (Whale Watching product) and a direct competitor in the marine-sightseeing category.
- Iceland Travel (by Icelandair): Iceland Travel is the tour-operator arm of Icelandair Group, offering escorted coach tours, self-drive packages, and Flybus-style airport transfers. It is a direct competitor in package tours and coach-based sightseeing with similar inbound-tourist focus.
- Arctic Adventures: Arctic Adventures operates a broad portfolio of Icelandic day tours, adventure tours (glacier hiking, snowmobiling, ATV), and multi-day packages from Reykjavik. Overlaps heavily with Gray Line Iceland's product categories and target tourist segments.
- Airport Direct: Airport Direct is a competing Keflavik-Reykjavik airport shuttle operator. It directly competes with Gray Line's Flybus service on price, schedule, and hotel pickup coverage for the same inbound tourist customer.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Gray Line Iceland social profiles
Digital presenceGray Line Iceland financial estimates
Financial estimateRevenue estimate
Valuation estimate
Gray Line Iceland leadership team
Management profileNumber of profiles
Gray Line Iceland funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Gray Line Iceland M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Gray Line Iceland
What does Gray Line Iceland do?
Gray Line Iceland is a Reykjavik-based tour operator that provides scheduled day tours, multi-day combination packages, and airport ground transportation in Iceland. Its core products are the Flybus airport transfer service between Keflavík International Airport and Reykjavik, themed day tours (Golden Circle, South Coast, Northern Lights, Blue Lagoon, whale watching, glacier, lava, and snorkeling tours), and packaged combinations that bundle transfers, tours, and partner activities into single bookings. The company operates from the BSÍ central terminal and runs a fleet of coaches and specialized vehicles (including Superjeep transfers) for roughly 18,000 trips per year.
Is Gray Line Iceland a public or private company?
Gray Line Iceland is a private company. It is classified as corporate owned and is currently operating.
When was Gray Line Iceland founded?
Gray Line Iceland was founded in 1989. It employs 101 to 250 people.
Where is Gray Line Iceland based?
Gray Line Iceland is headquartered in Reykjavík, Iceland, in the Europe region.
How does Gray Line Iceland make money?
Four revenue lines are on record. Day Tours and Sightseeing is the primary driver. The others are airport Transfers, coach Rental and package Tours and Custom Tours.
Who are Gray Line Iceland's main competitors?
Broad incumbents on record are Viator (Tripadvisor), GetYourGuide, Booking.com and TUI. TourRadar is listed as an emerging player. Direct peers are Reykjavik Excursions, Special Tours Iceland, Iceland Travel (by Icelandair), Arctic Adventures and Airport Direct.
Does Gray Line Iceland have an API?
No public API is recorded for Gray Line Iceland.
What industry is Gray Line Iceland in?
Gray Line Iceland's product category is Tour Operator Services. Its primary akta.pro industry code is THAIAIAB, Tour & Sightseeing Coach Charters, with a secondary code of THAKADAA, Escorted Coach & Bus Package Tour Operators. Its NAICS code is 561520 and its SIC code is 4700.