I had a great experience at Hotel Ersu. Originally, I was a bit apprehensive since it looks very generic and impersonal, and is popular with big tour groups. However, this was the 3rd hotel I'd stayed at in my Istanbul visit, and the only hotel I found with availability for my remaining 6 nights in the city (I spent a half day walking around the Sultanahmet and Beyoglu neighborhoods looking for a place!). But compared to the other hotels I'd already stayed at, this not only had the best room, but was also the least expensive.
The rooms looked newly renovated (I stayed in 2 different ones), with beige curtains, white duvet, and beige bed runner. Flooring was pergo. Importantly, the shower is in a separate, enclosed shower stall. You may find that in this price range, the shower often just goes straight onto the bathroom floor and all over the sink and toilet, since there's no partition or curtain.
Breakfast was standard Turkish breakfast, with a few more choices of breads and cheeses vs. most. Hotel staff was okay, not great. I didn't count on them for booking tours or giving a lot of tourist advice, so can't comment in that area.
The hotel is right around the corner from the tram stop, so it's very conveniently located. It's about 5 min walk to the entrance of Topkapi Palace (and adjacent to the palace walls), 10 min walk to Aya Sofia and Blue mosque, and in the other direction, it's a 10-15 min walk to the Egyptian bazaar and the docks for Bosphorus cruises. Though it's close to the tram, it's actually a pretty quiet hotel, since there's open space between the hotel and the tram line, and the hotel itself fronts a street that's closed to traffic.
Also, the website doesn't advertise wifi, but they have it in the lobby (and reaches some of the guestrooms too.
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