Room was spotlessless clean and newly decorated. Beds were amazingly comfy. Had everything we needed including the smallest microwave I've ever seen :-)
Hotel is eco friendly, being completely wind powered. They use recycled toilet paper and make it easy to recycle by having a special bin in the room. I thought the skylight was a good touch as well to help save on electricity (we were on the top floor).
Staff were helpful, we were able to arrange late check out for a nominal fee which I thought was totally worth it considering it gave me time to get my toddler into gear for the day ahead.
A few minutes walk from the Southern Cross Station, Sky Bus and tram stops. A few more minutes takes you to a decent sized Coles (supermarket) with a pharmacy, bakery and liquor store as well as fast food eateries. Go the other direction up Bourke St about 10 minutes and you'll come to Hardware Lane which is nothing but great restaurants with live entertainment.
Easy to walk to Southbank, Bourke St shopping area or Harbour Town (well the last one is a good 20 minutes but walking is what you do in Melbourne!). The Alto is in the CBD so it's not at the tourist end but very easy to get to that side by foot if you're in the mood or by the free City Circle tram.
Cons: So small :-) It is Melbourne city centre so space is at a premium. Granted, "small" is a relative term and whether or not you agree will depend on what you're used to. If I'd just come from London or Amersterdam I'd have thought the Alto large or at least "normal". Having arrived from Perth however, our 2 bed superior apartment looked very small indeed.
On balance however it was a good choice and good value. I can't fault them on anything other than the size which is not the hotel's fault and is pretty much par for the course in that part of Melbourne. We enjoyed our stay and I'd be happy to stay again.