My husband and I traveled to Colombia with another couple, and this was a great, well located spot in Santa Marta. I would recommend this place to anyone, but especially to those traveling with a group that needs 1-2 other rooms. We basically had a private hotel with a little plunge pool for a reasonable price.
Before our friends arrived, we also stayed at La. Casa del Farol (right down the street), which was more expensive. The only reason to choose La Casa del Farol over this place is if you really care about hot water in the shower (rooms are also a little smaller). The water at La Casa was impressively cold. Otherwise, it's a better deal.
I would also agree with other reviewers' comments about the noise at night, although that may be kind of hard to avoid if you stay in central Santa Marta. Breakfast was good, and the staff were all really nice, especially Angela, the owner.
One tip - check out the affiliated restaurant at the Hotel Gourmet Plaza across the street. It's like dining on the set of the Royal Tenenbaums.
If you're going to Santa Marta, this is a good spot. If you plan on heading out to Tayrona from there, I strongly recommend Hotel Merecumbe (that was our favorite spot during 3 weeks of travel).