This hotel is in a great location, across the street from the downtown Tour Bus stop #6, making it very convenient for the airport bus and all the bus tours. Every tour company picks up there. The neighborhood around it is full of restaurants, bars, and shops. It's centrally located, and easy walking distance to both Hallgrimskirkja cathedral and the historic city center. I walked around a lot in the evenings and loved the vibe of the neighborhood.
Oddly, there are no signs identifying the hotel from the street or sidewalk level. Just walk where your phone map tells you, and go inside. The 101 doormat inside the lobby was the only hint I was in the right place. Hotel owners: could you etch a 101 in the glass on your front door or put up a small sign for pedestrians?
My room was very modern and clean, with a comfortable bed and all the amenities one expects. There are two things to be aware of though. 1) Only stay there with a spouse or partner (or solo), not friends or children, because there is nothing separating the glass shower from the bedroom (no wall, no doors). 2) The street side of the hotel can be quite loud on Friday and Saturday night, as this is a big night-life district and the street is busy with people loudly having a good time. But my room faced the inner courtyard and was very quiet.