This hotel is located about a 5 minute walk from the zocalo, which is definitely the place to stay when visiting mexico city. The hotel is one of the best we stayed at in Mexico as a whole: comfortable beds, spacious rooms and very helpful staff who never recommended a bad restaurant when asked for recommendations.
The building had a lot of character whilst being very comfortable with modern amenities I.e. hairdryer, lifts (you'd be surprised how many places did not have a lift on our journey), free bottled water in the room, coffee making facilities etc. The breakfast was varied, and free so no complaints there. WiFi was also reliable, and free, another great draw. Check out at 13:00 is a nice addition, it gave that bit extra relaxation time before our onward journey.
As far as I remember we paid 130 pesos from the airport directly to the hotel (buy tickets for your taxi at the official, designated booths in the airport). On that note, be cautious of taxis, in fact, order taxis from reception, there's an extra charge for this but you can't put a price on safety. We experienced more than our fair share of conmen taxi drivers in this city but the hotel's taxi drivers were reputable and very helpful!
We took the metro out to the bus station and took the public bus out to teotihuacan, this site is something else and an absolute must for anyone visiting mexico city. We also enjoyed the anthropology museum which gave us a good initial insight into the sights that we were about to withhold on our trip.