Don't get me wrong, this hostel is perfectly fine. It is clean, has an excellent central location (within 15min walk of attractions on both sides of the river) and Olga is really fun and friendly.
On the down side, there is no air conditioning (or perhaps it wasn't working when we were there) and in summer Budapest can get very hot. It also doesn't have a sign - so make sure you remember that it is number 2!
Every night people go out clubbing with Olga - the only issue with this is that there was some pressure to join in. It is not a 'party hostel' in the conventional sense, but there is some pressure to go out. I don't think this is a big problem - we went out one night, not on another, but it is something that people might want to be aware of before they book.