Had a fantastic stay here.

The good:

Great hotel in a great location, close to pretty much everything downtown
Lovely staff, super helpful.
Great bar downstairs
Great water pressure and showers, despite the sulphur smell.
Free parking out the front if you rent a car. Name another hotel in a capital city where you can park for free outside the front door.... :)
Free wifi - always a winner..

The not so good.

Can be a little noisy on Friday & Saturday night as there are a couple of bars/clubs nearby and these guys go for it.
Beds were maybe a little soft, but no big deal really.

All in all though, would totally recommend staying here though.

As the name suggests, the hotel is centrally located in Reykjavik. There are no parking space available by the hotel but there's some parking space around the hotel - if you are lucky. There are plenty restaurants, bars and night clubs just next the hotel, which is nice in general. However on weekends this will mean noise caused by people having good time and also by the music played in bars. If your room is facing the street and is at low floors it will disturb your sleep. I'm not a light sleeper and usually the noise is not a problem for me, but I propose to check where you room is when you are staying over weekend. Hotel has it's own bar downstairs and it offer probably the best foreign beer selection in the city. Bar closes at 23:00 already and it is used for simple breakfast buffet serving at morning. Even if the selection is simple it is quite nice and I didn't really miss any basics. Stuff seems to be quite young and I believe that at least some of them are foreign students or similar. In any case they where providing good service topped with smiles. The room itself was not too large, as you can expect from a city hotel with this price level. Comfy bed is taking most of the space in room itself. Bathroom was nice and well cleaned. If you like to stay at center with couple of steps from restaurant and bars, this is your choice. Stayed for 3 nights.

We loved the location, the staff (especially Heiðrún Harðardóttir and the servers for the breakfast buffet), the price and the breakfast buffet. Extremely resonable price! The staff were so, so, so helpful.

This stylish and modern hotel lives up to its name, making it an ideal choice for a traveler looking to participate in the vibrant nightlife in Reykjavik. The rooms, like most places in the country, are compact, but comfortable. And the staff was tremendously helpful. And the price was remarkably reasonable for what you get.

On arrival, someone had been accidentally moved into my room, without proper logging into the computer. The manager came back in at 1 am to resolve the issue, which shows some true desire to do right by the customer. By the time my friend and I had wrapped up our Friday evening out, my room was set.

However, if you don't plan to be out and about on Friday or Saturday night, you best have a deep love of thumping base coming through the walls from the adjacent clubs, or you're not going to be especially happy.

Regardless, this is my favorite hotel in Iceland amongst the seven I've tried.