If you want to have an excellent location, good breakfast and a decent room but you can't afford the upper class options, this can be a good choice for you. But don't expect much service or kind details! well, you are in Ukraine anyway. You will have the best eating options (Kompot, Steakhouse and Co) and bars around (Mickey O'Neills is just some steps away) and the opportunity to experience the real Ukrainian "service" :-)
They seem to be aware of their excellent location and take good advantage of being in an old building (of which you get nothing in the interior) so their prices are just a little behind the top options (Continental, Londonskaya, Mozart, etc) to claim a fourth star they definitely don't deserve but to catch the clientele that can't afford 20€ more daily.
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