Location would be very much to my liking - far away from Reykjavik! Unfortunately as you pointed out, the price range completely different than ION so we cannot knock down ION based on what Deplar Farm does that ION does not.

And I am one to be reluctant to book non-chain hotels so this one would be hard to swallow. If this property was a Marriott Design Hotel, I would be all over it for my next trip to Iceland