The amenities were adequate but not great (internet was slow in my room for example but room was big, even by American standards; with the price, I wasn't expecting great internet), but you're probably not coming to Novi Sad to surf the net. There is also some street noise but not too bad. I would add, however, that the hotel restaurant is very good, seems authentic, and is quite cheap.
The location is great. It's right in the old city, so you can walk around to most of the sites like the fortress and go back for a break in your room. If you don't have a lot of luggage, you can walk to the hotel from the train station (25 minutes or so)
The best part is the service though, especially in Serbia where local knowledge in English is more useful. The front desk people are very friendly and seemed happy to point out places for me on the map. They even, without me asking, printed off a bus schedule to a nearby town I wanted to see. I had to leave early before breakfast (which is also decent) so they made me a sack lunch, free of charge