Weigh the value of the convenient location and hospitable accommodation against the potential security risks in close proximity.
The staff were extremely friendly, outgoing and accommodating. The rooms were super spacious and clean. The breakfasts were delightful with various fresh fruit, coffee/tea and juevos and provided an excellent opportunity to meet some of the friendly, outgoing, mostly late 20s/early 30s professionals and/or mid-50s professionals staying at the hotel. At a little extra cost, the airport transfers were smooth, seamless and able to be arranged for late at night (11pm). Wifi was solid in the rooms. Enough good things cannot be said for the hotel itself!
The location of the hotel, however, had both pros and cons - with the cons being the more memorable. On the positive side, it was extremely easy to get around the historic La Candelaria neighborhood and convenient to many museums, restaurants, etc. On the negative side, certain immediately surrounding neighborhoods (e.g. Egipto) are considerably more poor and reputed to harbor significantly less friendly elements. In my personal circumstance, when walking back from the historic area to the hotel in broad daylight on Calle 11 (near intersection with Cra 2), which was busy with many pedestrians at the time, a small group of 5 ~20-year old kids ran up behind my (female) friend and I and held knives to our throats. We each gave up our small backpacks (carrying cameras), but fortunately kept the majority of our valuables that were distributed elsewhere. Personally, I'd recommend not carrying a backpack (as even a small one increase your profile) and give the Egipto area a few (more) blocks of buffer.
To be perfectly clear, this was absolutely no fault of the hotel whatsoever (we were still 4-5 blocks away), but certainly one can understand how this type of incident can put a certain unappealing spin on the beginning of a trip. Of note, the hotel staff attempted to contact the police to have them come by to file a report, but were unsuccessful on several attempts (as were we after speaking (in spanish) to several police on the street about it who made calls and promised to send someone by though it never happened).
With hindsight being 20/20, I would choose to stay elsewhere on my next visit - either closer to the center of La Candelaria or in a different zone.
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