If you're interested in visiting the historical center, the location couldn't be better. There are lots of police officers in the area so you can walk 2 blocks to the Zocalo at night, no proble. The stores and most restaurants close before dinner time, so your options for dining in the area are limited. The hotel restaurant ("Los Portales" I think is the name) is excellent, very cheap, and open every night. I strongly recommend it, even if you're not staying at the hotel.
As for the hotel itself, it looks modern on the outside, the paint, the lobby, the magnetic card keys. But the rooms inside are a bit old-fashioned, small, and a little dark. Cable TV has very few channels and the bathroom is tiny, with the shower flooding the whole place, so if you take a shower in the afternoon, the place gets completely wet and dangerous to use. If at least they provided a mop or squeegy to wipe it off... The windows overlook the center of the building, so in addition to no view it can be pretty noisy from other rooms at night. There are other noises, from a power generator or some other machine all night long. Awful. We changed rooms twice as the room safe was removed from the wall, so even if you could lock it, anyone could walk away with the box and your valuables within. The third one was approprietly stuck to the wall, as it should be. The staff is very polite and responded favorably to our room safe complaint. That's a good point. They also have a room to store your baggage after check-out, in case you have a late flight. If your trip entails being away most of the day and get to the hotel to dine and sleep, then it's a good option for the rate (around US$ 30 for 2 pax a night). I'd recommend it.
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC.