We stayed at this hotel primarily for ease of parking which is free just behind the hotel and we never had an issue finding a spot. Note, the entrance to the hotel faces the harbour, there is no entrance from the main road side. You turn down a side street (Hlesgata), and then a lane way which runs parallel to the main road.
We booked the Double room with balcony and these rooms are on the top (4th) floor with either city or harbour views. The room is very small but functional and ok for a couple of days living out of a suitcase. The balcony makes up for the room size and we enjoyed the ever changing views of the dry dockyard and panoramic harbour view.
We were fortunate to be able to check in early, about noon time as our room was available. Front desk staff were welcoming and efficient. The city of Reykjavík and many attractions are within easy walking distance.