The hotel is situated on the outskirts of Reykjavik (20 minutes to get to the main street/harbour area). It's well situated if you're driving to visit the various tourist attractions in South West Iceland (Golden Circle, Inside the Volcano, Geyser, Kiv, etc.).
The building and rooms are fairly new and modern (we rented multiple rooms). It was clean and functional (although I wouldn't say luxurious). You have the basics and compared to other locations I've stayed in Iceland, I would say it's good value for money.