We were totally underwhelmed by this hotel, finding the service indifferent and the room bare bones, trying to masquerade as "design." Our room was called a suite, which was a room with a sofa added to an L section facing a blank wall. Every single space was littered with more random items for sale than an average lobby gift shop. As a result, there were no drawers or surfaces available for our clothing and just a small metal rack for hanging, forcing us to live out of suitcases. I often feel that this self conscious chic can be an excuse not to spend money and space on pesky things like doors and closets. I don't understand who all of these people are who want to bathe, wash and use the loo in full view.
The location of the hotel is excellent, however, and we found the bed particularly cozy and comfortable. It is subject to the usual bar noise on weekends, which is true of most hotels in the city. Reykjavik is not a hot bed of luxury hotels and we are happy we tried this, but would not repeat.