Stayed here in February 2013 for a romantic trip to the Venice Carnival for our anniversary.
The hotel was reasonably priced, and very good value, especially given that most hotels in Venice are expensive generally and crazily expensive a carnival time. We booked a junior suite, which was lovely (modern, minimalist) and spacious. The room was spotlessly clean and housekeeping was top quality.
The hotel location is fantastic. Sant'Elena is a quiet residential area, but it is only 3 stops from San Marco on the number 1 vaporetto, which is very regular - it only takes about 10 minutes which is much less than if you had to travel the length of the gran canal. Alternatively, you can walk along a very scenic route to San Marco in about 20 minutes.
The breakfast buffet was good - the usual continental choice, with a few hot options.
We thoroughly enjoyed our stay and would definitely recommend this hotel.