We just came back from a lovely long weekend stay here for the Edinburgh Fringe.
I picked it because of the location on the Grasmarket which turned out to be a good move given the quality of restaurants within a 3 minute walk of the hotel. If all the outlets on the Grasmarket are full, take a walk up Victoria Street for more fab restaurants.
We got a really big (not sure if that's only because it was a disabled access room) room which had no view but thankfully faced the car park - so no problems with noise. It did not have air-conditioning which we found really surprising, although it was not really necessary in August.
There is a lovely swimming pool and sauna. The gym was also very nice with air-conditioning and tellys in front of the running & ski machines. We also enjoyed drinks in the hotel bar which was a welcome respite from the hustle and bustle of the Festival... one that was not too pricey! Breakfast in The View (5th floor) was ok; not worth the £12 if you purchased it seperately but ours was included in our room rate. The view was everything you'd expect, except for the morning when it was foggy and you could barely see the Castle! If I had to find a complaint about breakfast, it would be that the pastries (Danish, crossaint, pan au choc) were rock solid and I had to pass on them even though they are generally my favourite breakfast item/ indulgence.
We payed quite a lot for the room (B&B) as it was during the festival. We booked it from gtahotels although easyjetrooms had it slightly cheaper. I wonder if you would be able to negotiate cheap rates directly from the hotel for the duration of the festival, as suggested by a previous reviewer.
Having said that, I am very happy with the stay. The staff were friendly and professional; and I loved the toileteries. Only minor problems were that they kept on leaving only one set of towels out ('spare' set was in the cupboard even though there were blatently two of us staying there); also, the soap and shampoo dispenser in the shower cubicle kept on jamming. I left a message out for it to be replaced and I came back to find the dispenser mechanism working but the straw part had detached itself from the dispenser. Pity to a lovely bathroom spoiled by a cheap, nasty dispenser. Thankfully though, they did supply some small bottles of the stuff as well.
The final matter of complaint would be that there are loads of tour groups which use this hotel. I had a run in with a rep from one of the companies who had no concept of queuing. The staff in this instant did nothing to intervene which was a bit of a disappointment.
I am of course, splitting hairs. My husband and myself really enjoyed our stay here and we are planning to come back again and again. I would recommend this to anyone who would like a bit of luxury... and if you are coming for the Fringe, this hotel is an oasis of calm amidst the chaos of the Fringe.