Very new, very nice, very European (nice wood finishes, high tech faucets, etc.).
Loved our 3-day stay in a suite room, which faced a serene view.
The location is in some ways "in the middle of nowhere", but we liked this location for travel in different directions on different days. Coming off of 25 days on a cruise ship we had way too much baggage to want to "hotel hop" around Iceland.
More specifically: it was not too far to Golden circle, we could drive to Diamond Beach and back (a must see for us) one day, and it was only a two hour drive to the International Airport for a noon departure at the end of our trip.
Other notes:
* refrigerator w/ ice would be nice (cabinet seemed ready for one - maybe in the future); we had to ask for a bucket of ice from the bar for our room each day
* breakfast spread was really fantastic and possibly the best we have ever had at any hotel or B&B that included breakfast
* two coffee machines at breakfast provided excellent coffee, expresso, lattes, and more
* all staff were friendly and helpful