Space adequate for up to 2 "average-sized" adults. I say this because if you are any larger than average, the shower will probably be uncomfortable.
Pros: Clean and modern accommodations. Close walk to waterfront, bus stop 7, and the 24/7 store, 10-11 - though things in downtown Reykjavik are not far to walk to. Comfy bed, mini fridge, microwave, toaster, electric kettle, dishware, and utensils are provided.
Cons: Although it was stated there is not 24/7 reception/concierge services, there was not a single moment in which reception was available during my stay - even when I knocked at 10:00 AM (which seems like a standard time people would be working). This is inconvenient for a place called a "hotel," because check-out time is 11:00 AM and I did not have to board a departing bus out of Reykjavik until 1:30 PM. I had to drag my suitcase and carry-on luggage all over the downtown instead of being able to request reception hold onto my baggage. Stayed 2 nights and housekeeping did not make my bed or wash my dishes (2 mugs + 1 spoon) after my first night - all they did was take out the trash.