We stayed here for three days last week. It's fairly central, about a mile+ from Circular Quay, where the Opera House and ferries are located. It looked fine on the web site, but the reality was much different. Where to start... First of all, there is a pub on the ground floor, supposedly a restaurant, but not open for breakfast or coffee in the morning, and no room service. Two of the nights, there was a hugely loud band that could be heard throughout the building. The rooms are upstairs--actually on the American equivalent of the third floor, with a lift only for use for hauling luggage, and for which you must ask for a key. Lots of steps, and the lobby (a small room) is up there too, so if there's only one of you, you must either leave your luggage unattended to go up and register and get the lift key, or haul it up with you.
If you arrive after 5:30, there's no one there. We had to search around to check in, finally finding someone in the bottle shop behind the restaurant who registered us. But he's not well versed about the hotel.
Internet is not free and is not wifi. It's the old plug-in style, which meant I couldn't use my ipad. There are two computers for use out in the hallway on the second floor, both out of order.
The room (tiny even by European standards) has no closet or drawers; just three hooks on the back of the door. No luggage stand, either. Washcloths, hand towels, and even bath mats are not supplied, even if you ask. The bathroom floor is tiled with smooth ceramic tiles, making it a slipping hazard. I asked for a bath mat; they gave us an extra towel (only two are supplied per room), but even though we hung it up as instructed so as not to be taken and washed, housekeeping took it and left only two towels.
The bed was very small, and the pillows were extremely overstuffed and uncomfortable. The quilt was covered on both sides with sheets, but it was badly stained with tea or something. (It wasn't coffee, because there's no coffeepot in the room; only a teapot.)
The room was clean other than the quilt, and cheap--$321 Australian for three nights. However, my Amex was declined due to possible fraud. When we called Amex, we were told the hotel name kicked off the fraud alert. It's really called Maquerie Hotel (supposedly bought by Econo Lodge), and there is a betting room on the ground floor (legal in OZ), making Amex think our card was being compromised. We ended up using our ATM. (Visa had been compromised earlier in the trip. Take a backup Visa!)
I would try the Travel Lodge across the street instead.
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC.