Hotel Daniel is great for anyone visiting Munich on a budget. Certainly there are nicer hotels in the city, but we found Daniel to be a good value for the price. Staff is friendly, rooms are clean, and the breakfast buffet is on par for European hotels. The beds weren't the most comfortable but again, you could do worse.
The only real downside is that it's situated on a relatively noisy street, as to be expected for being so centrally located. Do enough walking and spend some time in one of Munich's many beer halls and you won't have any trouble sleeping.
We would certainly return if our travels take us to Munich again.