This hotel is located in the heart of downtown Santa Monica, so you can easily walk to the most popular places in Santa Monica. That's great, since driving and finding parking in downtown Santa Monica is sometimes not fun. The hotel is in an older building, but it has been well updated, and the accommodations are great, especially the comfortable beds. The staff is extremely friendly and proactive.
In exchange for the great location, you have a few trade-offs. There's no free breakfast, though a couple of very good places right nearby will give a 15% discount on breakfast if you show your room card. Also, as the hotel is right downtown, you may be able to hear buses as they start running early in the morning and the occasional rabble rouser making some noise late at night.
Personally, I'd stay here again. They really go out of their way to take care of their guests, and you can't beat the location.