Resting on the edge of Reykjavik’s Old Harbour next to the soaring, sparkling glass edifice of Harpa concert hall and conference center, the brand-new Reykjavik EDITION brings a new level of swish lodging to Iceland’s capital city. Steps from Laugavegur — the city’s main shopping street — and an easy walk to a wide selection of museums, restaurants and cafés, the newly opened hotel delivers high on luxury and service in a location ideal for becoming fully engaged in the energy of this spirited capital city.

© Nikolas Koenig

The imaginative force behind the brand’s unique concept is Ian Schrager, whose influence can be felt in every space. Arriving guests are greeted by an exterior façade of shou sugi ban timber, charred to an ebony color through an ancient Japanese technique. The façade is set against blackened steel frames suggestive of lava-covered slopes. In the lobby, the basalt stone flooring and striking reception desk offset a towering Icelandic lava stone sculpture.

Spacious corner suites face the harbor and Harpa’s glittering multicolored exterior, and are rimmed with floor-to-ceiling windows allowing a heady immersion in the sky, sea and undulating line of distant mountains. Suites are fitted with full-sized dining tables; a powder room; a large living room with a long sofa, daybed and lounge chair; bookshelves stocked with a selection of works highlighting Icelandic artists and designers; and a peaceful bedroom and en-suite bath that includes a separate shower space and a deep-soaking tub.

© Nikolas Koenig

Gorgeous tactile details connecting guests to the majestic natural landscape include the handmade stoneware water vessels and drinking cups in each room, all evoking images of glacial peaks, created especially for the property by ceramics artist Guðbjörg Káradóttir. Gallery-worthy furnishings include wood-and-leather custom chairs, original works by Icelandic artists Pall Stefansson and Ragnar Axelsson and wool bed throws by local textile company Ístex.

The hotel’s 253 guestrooms and suites are augmented with social spaces, including TIDES restaurant, under the direction of celebrated chef Gunnar Karl Gíslason; Tölt, an intimate bar tucked away off the main lobby that features a green marble-topped bar with backlit bronze shelves, cozy burnt orange-hued nooks and alcoves, a walnut-paneled ceiling and pony hair poufs; and the seventh-floor Roof bar, with glassed-in spaces and a seasonal outdoor terrace.

© Nikolas Koenig

A skilled events team can organize meetings and professional gatherings. There’s also a subterranean nightclub and a Nordic-style fitness center and spa with state-of-the-art workout equipment, three treatment rooms, hammam, steam room, sauna, plunge pool and geothermal water splash pool. Pre- or post-workout, sample a Viking shake or an Icelandic moss-vodka infusion at the spa’s own bar, or nibble on volcano bread served with black lava salt.

Once the epicenter of the city’s trawling industry, the surrounding waterfront neighborhood has since matured and transformed into a dynamic shopping district and departure point for whale watching and Aurora Borealis boat tours. Let the concierge arrange an outing for you, or spend the night in. In the evening, be sure to find your way to the lobby bar and signature Living Room, where a rendition of the Aurora Borealis flickers along one wall as you enjoy an Icelandic birch liquor while nestled into a sheepskin-draped chair in front of the crackling indoor fire pit.