I really enjoy visiting Modling - it has a charming holiday feeling to it. The Babenbergerhof is very well located right next to the restaurants and bars, and there are some good woodland hilly walks to work up an appetite for that Austrian food.
The rooms are a little small, and perhaps need refurbishment (although I understand the rooms in the refurbished wing are really nice). The bar and restaurant are very good.
Compared to some hotels in Gumpoldskirchen 4 miles down the road, I give it 3 stars for the rooms and value, however I would recommend it if being near the bars and restaurants was important.