I stayed in this hotel twice these are my points to consider when coming here
Cons (for some):
1- There is no lift (or I did not find one) so make sure you do not have extremely heavy bags, unless you can carry it up two flight of stairs
2- The room facing the street can be loud, for those who can not sleep from the tiniest sounds then maybe this ain't the right place
The room on the inside are less noisy, but there seemed to be some fan working
3- No AC, so if it is boiling hot, then you have to open the windows meaning more noise
4- I usually stay in this hotel when the price is low, however sometimes the price of the hotel does not make sense with what it provides.
Pros:
1-Great Location, right on the Reeperbahn
2-Staff was nice except for one instance, where it was 10 minutes before 14:00 and they still would not allow me to check-in because still 10 minutes left.
3- The room was not super clean, but it was acceptable for me
All in all if you are a group of young adults coming to enjoy then this place is suitable, however if you are some posh rich kid then maybe this place ain't right :D