Just got back (3rd Aug 2012) from spending 3 nights at Hotel Etoile Trocadero, Paris.
Pleasantly surprised as the photos on tripadvisor do not do it justice. It looked like it had been refurbished since the last photos had been taken. The rooms may be small but its a typical Parisian building. Hotel is clean, tastefully decorated, free air conditioning (we've had to pay for it in other hotels), rooms cleaned daily, beds made, towels changed daily, hot water, breakfast was more than adequate for a continental breakfast and pleasant staff. Hotel is ideally situated 2 mins to closest metro, 5 mins walk to the Eiffel Tower and 10 mins walk in opposite direction to Arc de Triomphe & Champs Elysees. We had a good deal so it was real value for money. Would go there again and recommend.

We loved this hotel's location. We were just a couple blocks from the Trocadero metro stop and the Eiffel Tower. There are a ton of places to eat within blocks of the hotel as well, and a laundromat just down the block. The pictures of the hotel can be deceiving, the real thing is not as lovely, but the rooms were clean, comfortable and made up daily. We had a refrigerator, enough room to move around and, above all, air conditioning! The staff was very pleasant to work with, especially helpful in storing ice packs for day trips. The continental breakfast was simple, the same everyday, but the bread was fresh. For a place to sleep after a busy day seeing Paris, it was a good place to stay, especially for price and location.

This is one of the best hotels you can use at a low fare, however some hostels might be bigger and perhaps cleaner than Etoile Trocadéro.

The rooms are small and the carpets seem a bit mucky; it is not as nice as it would seem from the professional photos. The bathroom however, was clean and hot water was available at all times, no problem in that department.

The breakfast (if included in your fare) is handy perk as you can get what you need to start a long day of walking and sightseeing.

The nearest subway stations (Kléber and Boissière) are just a couple of blocks away; from there you can get to anywhere in Paris, you can even get to Versailles so you don't need to book a tour for that. If location is everything to you then Etoile Trocadéro might be your best choice.

'Arc de Triomphe' and 'Tour Eiffel' are nearby, you just need to walk down Avenue Kléber, although you won't get a view of those landmarks from your window.

Tip: If breakfast is not included in your fare don't buy it (it's pricey) and eat in one of the many restaurants outside. There is a mini-market almost in front of Etoile Tracadéro so you can get bottled water, beer and fruit (you know, the essential) and store it in the mini-fridge in your room. There is also a nice sushi restaurant in the left, down Rue St. Didier where you can get dinner at a reasonable price.

I spent two nights at the Etoile Trocadero during the last week of June, 2012. On the upside: the room had air conditioning (a veritable luxury in a country without air conditioning) there was lots of hot water and it was within a short walking distance of many major tourist attractions (Eifel tower, Arc de Triomph, Louvre etc). Come to think of it, it was also very quiet. On the downside: the room felt dingy, it was very small and there was no shower. It was a little pricey at 209.00 Euros but it was the beginning of the high season and -- as they say -- location-location-location.