Ironically enough, I went to Reykjavik last year for 3 nights on my way back to the States from Ibiza (we flew Icelandair from San Francisco to Europe). The airlines lost our luggage between Spain and Reykjavik, so unfortunately we didn't have any clothes in which to dress to go out in. However, I can tell you that if you don't have hotel reservations yet, you should stay at a place called "Room with a View". The rooms are inexpensive and are AWESOME. Totally decked out with nice furniture and the balconies have private hot tubs! Good luck and have fun. Reykjavik is beautiful....don't miss the Blue Lagoon. AWESOME!