I generally believe that hotels that are a good value are a compromise: Good Hotel OR Good Location. Monaco is both. I love Alexandria, there are many wonderful thing to see in DC proper but I find that after a long day of tourist trampling I look forward to the quaint streets of Alexandria.
Monaco is close to a variety of choices for ANY meal. Whatever price point you are looking for you can find within walking distance of this hotel. The streets are perfect for window shopping quaint boutiques and consignment shops, buy souveniers or get errands done (post office anyone?)
The common spaces in this hotel are beautiful but what I really love is the decor in the rooms. The small picture boxes and the luxe bedding and toiletries are simple elegant details.
The complimentary wine reception is a lovely touch as is the restaurant hotel and bar for convenience.