I stayed here five years ago and revisited this month for one night. The rooms are still very basic but the TVs are now flat-screen and the bedclothes have been updated. The en suites are wet rooms so you have to be careful when you shower. Also, those of you who can't cope with steep narrow stairs might want to look elsewhere. However, for the price, you can't really complain as most other Eindhoven hotels charge higher prices and don't include breakfast. It's on the northern ringroad about a 15-minute walk up Kruisstraat from the central station and is ideal for visitors to the technical university campus. They have free parking at the front of the hotel and bars you can chain your bike to.
The welcome was very warm (it's family-run), more like a B&B really. One thing I will add to the other reviews is the hotel only accepts cash payment on arrival (which the English version of the website didn't make clear) so make sure you have it. If you don't there are cash machines in the nearby Woenselse Markt. I assume they do this to keep costs down (probably also the reason you won't find this place on booking websites).
My only gripe would be the strength of the Wi-Fi signal. We were on the second floor and neither of the two networks would stay connected. It worked on the landing but was still slow. If you were here on business you wouldn't find it acceptable.
The breakfast is really good. The usual continental offering of cold cuts, cheese, bread, cereal etc. They cook you eggs and bacon to order (and it's worth noting that one portion is enough for two!).
All in all, it's fantastic value if you're not hung up on staying right in the city centre. It's away from all the bars so the area is reasonably quiet although the ring road can be quite noisy during the day.