We recently stayed here as a party of 4 for innovation in the dam and stayed in room 17 which is a basement room. If you're coming for something like innovation then room 17 would be perfect so see if you can request it, it has a door which leads into the garden so you can smoke and the room we had was actually quite clean and modern.
We did go for a wander around the hotel and it does look tired and worn down and i can imagine that some of the other rooms aren't as nice as the one we had and that we were quite fortunate really. The location is perfect so if like us your not planning on spending much time in the hotel its great but if you were wanting a hotel that you can relax in your room then probably not. You're about a 5/10 minute walk into melkweg which has a bullddog cafe and loads of places to eat and the red light district is about a 30/45 minute walk but there are trams.
You do get wifi and a TV in your room which is a plus and the wifi is free too. Another plus are that the beds are really comfy so you'll get plenty of sleep.
It does need some work done as it hasn't really got a friendly feel to it but over all our experience was ok.More