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In the up-and-coming fishpacking district along the waterfront, this former paint factory is one of Reykjavík’s most all-around fun hotels. The colorful room decor is a nod to the area’s nautical past, with things like fish hook hangers and rope knot wallpaper, merged with quirky modern design elements, like polished concrete walls and reclaimed wood tables. This place is amenity-rich too, with one of the city’s premier cocktail spots (Slippbarinn), a laidback bistro, a cinema showing Icelandic movies with English subtitles, and a fitness room with a small climbing wall.