Get a room overlooking the harbor. It is not noisy, but very interesting. You can see various types of boats and the mountains in the distance. We also had a balcony.
In the summer, there is daylight 24 hours a day, but there are pretty good darkening curtains.

The beds were good, the bathroom nice, and products lovely. Also a secure safe. There was a tv, hair dryer and while the room is small, there was room for two of us to hang things and place our luggage..

The hotel restaurant was very good and while the breakfast is not included it is well worth the 26$. (Iceland is expensive). I had a delicious burger there one night.

The blue bus stop on the harbor side of the hotel is where the buses pick you up for various tours. Easy walking to three museums and many, many harbor side restaurants.

You can walk to the old town in about 15 min. The area is clean and safe. Will stay there again.

We spent the night here before embarking on a Scandinavian cruise. The location was wonderful-close to downtown Reykjavík and all the tourist shops.
The rooms were small and the bathroom was tiny. There is a small gym and a coffee shop in the lobby.
As with almost any place in Iceland, nothing is inexpensive.

This hotel is made to keep in the heat! It was so hot in the rooms even though the weather outside was 50s. We slept with windows open and it didn't really cool off. If you are staying here, I highly recommend that you just wear t-shirt and shorts (or less) to bed. You will also need an eye mask because the sun never goes down. And because you leave the windows open you will need the ear plugs that they provide because the noise outside your room goes on all night. We even had people yelling into our window when we had a 1st floor room. If possible get a room on the harbor side. At least you won't have the sound of the cars driving by. Also the harbor side is shadier. Try to close your curtains during the day. Leave your door open when you're in the room so that there's a flow. Ask for a fan as soon as your arrive because there are only a few.
The bathrooms are pretty small. The shower is about 3.5 feet square.