Largely because of recommendations from TA, a friend and I spend 4 nights at Five Cool Rooms last week. All in all, we enjoyed the experience and I am highly recommending this hotel to another friend traveling to BA in a few months. The price was great - $100 a night with 15% off if you pay cash at check-out.
We arrived around 10:00, well before 3pm check-in, and the hotel gave us a recommendation for a good place to get breakfast while it got my room ready. My room was ready very early - at 11:30 - and the staff had already moved our luggage into it.

I booked the small room which was, not surprisingly, small. However, I found it quite comfortable. The soft bed with fluffy pillows and clean white linens was wonderful. The bathroom was modern, though small. I stored my rolling suitcase on the desk because there was no room for a suitcase rack. There was a nice flat screen tv with lots of channels. The heater/air conditioner had a remote control. The hotel did a great job of branding, with its logo on toiletries, towels (great big bath sheets), paper, sheets, matches, organizer, etc. My only real complaint about the room was that it just had one small trash can that was hard to get to in the tiny bathroom. I've posted some photos which I hope will show the size of the room.

I found the staff very competent and helpful, if not overly friendly. They answered our questions and helped in making reservations, arranging cars, etc, but didn't go out of their way to befriend us. Breakfast was typical - pastries, cereal, fruit, ham & cheese, tea, coffee.

The best part of the hotel to me was the style, which was very clean and modern, making the entire hotel very open and inviting. Outdoor and indoor living areas (with free internet usage and with tvs) were great places to hang out. While we didn't have a mini bar the front desk had some bottles of wine for sale, which we enjoyed in the courtyard one evening. There were scores of restaurants and bars within a few blocks of the hotel, so this wasn't really a problem.

The location was ideal, being within easy walking distance of shops, restaurants, bars, a spa. The area was much like being in the Village in NY, with people walking about everywhere and lots to do. When I return to BA I will definitely return to this hotel.

This is a great hotel in a prime location in the Palermo Viejo neighborhood for a very reasonable price. The shopping and restaurants in this area were my favorite in BA. The rooms were minimalist, nice, and very clean. The staff was very knowledgeable & helpful (although not super friendly) -- they booked a great tango show and football game (definitely a highlight of the trip) tickets for us and always had recommendations, directions and maps. They have free & fast internet and a decent continental breakfast.

We booked a room at Five after reading reviews that mentioned its cool design and good location. Alas, because of the Aerolineas Argentinas strike we didn't get to stay there, but we did have to pay them anyway!

The airline strike left us stranded in Mendoza where we scrambled for a room for the night and contacted Five as soon as we saw that all of the flights were cancelled. We asked Five not to charge us because of the airline strike but they refused. We pleaded with them in several emails and then in person the next day when we finally arrived in B.A. They curtly pointed us to their 72 hour cancellation policy and wouldn't budge. While we understand that the problem wasn't theirs, it wasn't ours either.

In contrast, the Park Hyatt in Mendoza, where we ended up staying the night that we were stranded, stepped up and told us that when we arrived in B.A. we should go to the Hyatt to store our bags for the day and freshen up in the Spa before our flight to the US that evening. When we arrived at the Park Hyatt in BA the staff was aware of our plight and treated us like long lost relatives. The level of customer service was impressive - something that will stick with me for a long time. The lack of customer service at Five will stick with me too.

While the hotel is small, we found out that it was all sold out that evening, so they would have foregone only our $150 payment (which promptly appeared on my credit card). I fear that they will lose more than that in the long run when people realize that this hotel puts customer service at the bottom of its list of priorities.

If you can't afford the Park Hyatt (which is one of the most amazing hotels I have ever seen) and want to stay in Palermo, you're much better off at the trendy BoBo Hotel where the staff will bend over backwards for you. We stayed there earlier in our trip and loved it. BoBo and the Park Hyatt understand the value of good customer service in the hospitality industry - treat guests well and they will return and encourage others to do so, treat them poorly and they will spread the bad word. So, stay at the Park Hyatt or BoBo and steer well clear of Five, especially if you're flying on Aerolineas Argentina!!!

We stayed for three nights in a large room at Five Cool Rooms. Hotel is minimal chic and has everything you'd want in a tourist hotel. Position was fantastic, close to restaurants, galleries, shopping and boutiques. Felt very safe, double security front doors in a trendy residential and tourist area. Staff were very friendly and helpful.