FWIW, the hotel self-describes as :
“Housed in an old transformer station in the heart of Copenhagen, the Socialist is a design hotel with the most striking of visual expressions. From the outside, its bronze industrial façade appears closed and anonymous. But within lies an interior of exquisite materiality, and a place of vibrant social interaction - where the city’s creative community, in-the-know locals and ever-curious visitors come to work, play and stay.”
… which suggests the word “socialist” is being used in a modern Scandi context that’s not related to the traditional, first-world definition.