This establishment provides a nice balance between value for money, location, and quality.
It is located less than five-minutes walk from the Munich central train station. If you take the right exit - you'll be about a block away from Marsstrasse. Although this is definitely the 'seedier' side of the town - vs. walking the other way from the station leads you into Karlsplatz and Marienplatz, with high-end shopping and restaurants - it's still close enough to those areas that you save money and enjoy a quick walk.
The hotel itself is of higher quality than its surrounding area. Friendly helpful staff who speak English. Secure elevators and well furnished rooms. WiFi didn't work in the rooms (and they only give you 30-minutes for free daily - which is silly) and breakfast was expensive. Newspapers were provided gratis as well as a map - showing the 10-minute walk to the lovely center of Munich.
The rooms were some of the nicest I stayed in whilst in Germany. With iHome radio to charge/play your iPod, nice beds and English TV - definitely good quality for the price. Staying on the top floor in a single room, the ceilings were sloping acutely - such that I could hit my head if I wasn't careful. The shower was a nice walk-in variety and the bathroom floors almost seemed warmed.
I found nice (cheaper) places to eat/have breakfast than in the hotel (by the train station) but would recommend this hotel for budget-concious but quality-oriented travelers to Munich.