The hotel and rooms are unbelievably charming and the location is convenient walking distance to all Colonial Zone historic sites. Also the Mexican restaurant across the street has vegetarian food and the only organic vegetarian restaurant in the city Crudo is a 5 min walk away. Note that this property is cash only.
We would definitely consider staying here again -- this time however a few things held this hotel back from getting a 5 star review:
1. A/C ISSUES: Like other reviewers the air conditioning unit in our room too had problems and stopped cooling. When we mentioned it to the staff they seemed unconcerned ("someone will come by to fix it in a couple of days") and no offer to move us to a different room or apology of of any kind was made. Fortunately we were more or less comfortable at nights with the fan mode only which did work even after the compressor quit.
2. BREAKFAST WAS NOTHING SPECIAL: It was a nice convenience that breakfast was included -- simple but nothing special or memorable.
3. DAYTIME NOISE: Finally each time we returned to the afternoon during the daytime there was a steady, rhythmic dull banging sound as if someone where chipping away and dismantling and old brick wall by hand. We never did find out what this was nor did the hotel staff inform us of any planned construction or maintenance issues during our stay.