The hotel is located at the eastern edge of the "city center" area, which is encircled by a ring road. The location on Rakoczi Street is convenient because both metro station and street cars are just round the corner. At this time of the European economy, Budapest shows the effect - many shops on the street are either boarded up or are "outlets", which are called close-out shops in other places. The local guide book mentions a luxury hotel, the New York Palace nearby and I wanted to go there for dinner. Unfortunately, I made a mistake by turning eastward, instead of west and then north on the ring road, to find the street quickly getting deserted. There were many drunks and homeless people loitering around.
The building is an old one and was said to have been taken over by the hotel chain a couple of years ago for total restoration and refurbishment. The architecture is classic beauty, but the interior could have been better for a medium-priced hotel. The carpet, probably due to the poor choice of color, looks dated and the shower is almost broken. Sound-proofing of the windows is not sufficient to shield off the annoying roars of racing motorcycles and sports cars in the small hours.
Having said that, I must be fair to compliment on the overall beauty of Budapest (both Buda and Pest on either side of the storied Danube). There are plenty of sights to see and a little adventure won't hurt. I believe that in a few years time, when the economy of the city picks up, the centrum prosperity expands past the ring road, the hotel would be a good choice for a business traveler. Budapest will see me again.