We stayed at the hotel for 2 nights and it is a nice base for exploring Lisbon. The rooms are spacious, clean and very comfortable. From our room we had a great view of the north of the city. The hotel staff was also great.
The hotel is located in a quiet area, not that close to the city centre, close to the Saldanha bus stop (this is where you need to get off when you take the Aerobus from the airport). Although it is further away from most attractions, you need to take a bus or metro (both nearby) anyway to get around Lisbon (Lisbon is pretty big, and the sights further away e.g. in Belem are worth it!). The hotel is close to El Corte Ingles, a major shopping centre, where there are some restaurants, banks etc. too (the other Real hotel, Real Palacio is at the end of the same street and is even closer to the shopping centre). By the way, several tourist city tour buses stop at El Corte Ingles.More