The hotel is well located just off the main commercial street in Reykjavik, within walking distance to Perlan, the Church, and the Bus station. The rooms are small, even by European standards, but one would plan to spend a lot of time in the room anyways. I stayed in the Economy Single room with a shared bathroom. If this is the market you are in, the shared bathroom will do. The shared bathroom is the exact same as one in the private rooms, except located in the center of the hall. The hotel also features a good breakfast. The location of the hotel would overrule other downsides, as it provides easy walking distance to the center, but without the noise associated with it.