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Home to Iceland’s largest privately owned art collection, this tried-and-true classic is set on a quiet residential street just a 5-minute walk from downtown. Original owner Þorvaldur Guðmundsson, who passed away in 1998, was a great admirer of Icelandic art, and the work of some of the country’s best-known artists, including Jóhannes S. Kjarval, adorn the rooms, lounges, library, and a ground-floor restaurant. Aside from the artwork, the rooms are rather classic, with leather chairs and dark wood furnishings. Some have access to a small balcony.