My wife and I stayed at the aloft for 3 nights. We were very impressed with the aloft. It is brand new and has a contemporary feel. Since it's new, it's very clean and that means a lot to us. We booked at SPG.com and got a Starpicks rate @ $89 per night since we booked just days before arriving. Four star hotels in the city were going for $170+, so being outside the city for $89 was well worth the savings. We would drive into the city in the morning and stay until night. If you require to be "in-and-out" of your room throughout the day, I wouldn't recommend staying outside the city.
The lobby is very welcoming and does not have the overwhelming "club" feel of a W hotel, but it is chic and modern. The room is a loft style, duh, and the layout is very optimal with high ceilings. Other details include a comfortable bed, 42 inch flat screen, free wireless internet, iron, and Bliss bathroom products.
Being close to the airport did not significantly increase airplane noise. However, hallway noise can heard easily, so hopefully you don't have loud neighbors. The toilet/shower has a door separating it from the mirror/sink. But the sink is open to room, actually behind the bed. So it can be noisy for someone that is sleeping when another is using the bathroom.
The hotel does not have many frills like butler service, mini bar, 5* restaurant, but you might not need that anyway, so you shouldn't pay for it. It does have a pool, outdoor deck, pool table, and offers free car wash. They give you a bucket with soapy water and a sponge and you can wash your own car.
We arrived by car from the west. If you're driving, check Google Maps or call the hotel for directions before you go. The airport is big and the streets can be confusing. The drive to the city center is about 15-25 minutes depending on traffic. There is not a good option for public transportation from the hotel to the city. You'll have to take a taxi to a bus station, then a bus to a metro. That trip could take you 45-60 minutes and cost $10 for the taxi and $2.75 per person each way for the bus/metro. We found good parking on Berri street under the new library. It costs $10 for 24 hours and $7 for 24 hours on weekends. Parking in the business area is about $20 for 24 hours. The walk from Berri to the old town is just 10 minutes and to the business/shopping area just 20 minutes. The other advantage to having the car is that you can drive around the city and experience things at your own pace. With our 3 day stay, we drove to Quebec City for one day and had enough time to see highlights of both cities.
In summary, the hotel was awesome. The location was okay, but worth it for the price. Montreal is very cool!