Newly refurbished, this hotel is a real surprise for Venice and the kind of thing i would expect to pay much more for. Venice is one of my most favourite European cities, but the hotels don't excite me much at all. This one does. It is modern, yet tastefully redesigned to maintain a venetian feel. Rooms are a generous size by European standards and extremely clean and comfortable. The service was excellent and always friendly.
About the location: you need to know venice to understand that just looking at the map doesn't help you understand whether you have picked a good spot. Arcadia is only two bridges from Piazzale roma and only one from the train station, meaning if you are arriving from either of those places, you can quite comfortably get your suitcase to the hotel without too much hassle or more importantly, paying for an expensive taxi or luggage service. An although it doesn't look close to san marco, it really doesn't take that long to get there. You don't need public transport if you are mobile. Us who live in venice are always walking, and what a pleasant walk it is.
I will be recommending this hotel to anyone who asks me for my advice on where to stay in this wonderful city.