The redevelopment of this area of Zamora has rather stalled, but the hotel itself, built into the ruins of an old convent and distillery (the chimney still stands), sits in a quiet little square with a fine romanesque church. It has all the facilities you'd expect from a four star hotel, and the staff were friendly and helpful. It is only five minutes walk from the main square, and less from the pleasant walks along the banks of the River Duero.
The breakfasts are pricey: but they always are in Spanish hotels -- far better walk up to the city centre and find a cafe.