I stayed 2 nights in this hotel in March 2009 as part of a package tour of New Zealand and Australia, so cannot comment on the room cost but can make observations on the facilities etc and compare it to all the other 'same-standard' 3* or so hotels I stayed in.
The hotel is a narrow high-rise located on a quiet street, very close to the river, in the heart of the charming city of Melbourne. The local area is dominated by corporate business, so the noise is minimal and it only gets busy on the pavements for brief periods out of working hours; you are VERY close to the large pedestrianised area adjacent to the south shore of the river which runs through the city centre. The main shopping area of the city is barely 5 minutes stroll away and you are also only a couple of minutes from the southerly AND northerly legs of the city circular free bus route (as they are either side of the hotel) and the main tram line, so everything is easily accessible.
The facilities and locale of this hotel mean it is really more like a motel, but that should not detract from the overall quality of what is there - it should not be viewed as somewhere to stay-in for cosy evenings but as a handy and well-equipped base for making the most of visiting Melbourne.
Overall, the hotel was fine with no significant negative points, with all the expected room facilities and cleanliness but there was no in-room safe (complicated process at reception to get a safety-deposit box, but it is free at least). Unusually, the room was equipped with a microwave oven, sink/drainer and all the necessary kitchenware for basic home-cooking/eating - quite handy ! There is a medium-sized supermarket about 3 minutes away and it seemed to be open all hours.
The bathroom wasn't, with just a shower cubicle and basin area but there was a very effective aircon unit. I was surprised to hear all the noises associated with drainage etc from the rooms of other residents filtering into my room - it was often quite noticeable but not too much of a disturbance. Due to the surrounding high-rise buildings don't expect too much of a view from your room....
There are only 2 lifts which are quite small, so things can get quite busy at peak-periods. There was a fairly large dining room which is there solely for breakfast. The breakfast buffet was fine, with a reasonable choice of foodstuffs but eggs 'cooked-to-order' (something I like a lot) were a struggle to obtain. The reception staff were helpful and there is a very well stocked information area with leaflets for local attractions and tours.
This is a smart, clean and tidy hotel for a stay in Melbourne which offers a superb location for visiting the city and good in-room facilities for those who want to self-cater.