I stayed here for 12 hours during a long stayover in Colombo; I thought it would be less hassle than getting a visa and leaving the airport. In hindsight, I wish I'd got a visa...
It started to go downhill at the reservation stage, I had to play email ping-pong with the hotel to make a reservation. They kept asking me for information I had already given them.
On arrival, when I eventually found the hotel -- it's buried away on the second floor, which you can only reach from the elevators near passport control -- I was given a less-than-warm welcome by the surly receptionist, who looked confused and fumbled with bits of paper as he tried to find confirmation of my reservation. Eventually, after handing over US$100 for 12 hours, I was given a key card and pointed to a room about 10 feet from the reception desk, directly off the lobby. When I asked if I could have a room in a quieter area, I was told simply "no".
The room was spacious and reasonably appointed, but seemed like a converted office. It was not very clean and a previous guest's sweaty shirt was still hanging in the wardrobe. Some of the lights didn't work and the TV reception and channel selection were abysmal.
I went to sleep on the bed, which had only a thin top sheet with no duvet or bedspread. I woke up cold and hungry, so I ordered breakfast from the in-room dining menu. The telephone was answered by a woman I couldn't understand, when I asked her for breakfast she just kept saying "sorry". Eventually, a man came to the phone and understood that I wanted breakfast. Before asking what I wanted for breakfast he said "credit card or dollars?"... I informed him I would like to pay in dollars. About 15-20 mins later, my breakfast arrived and I duely handed over $10 for my $8.50 breakfast. The man told me he didn't have any change. I told him to try reception. He came back a few minutes later and handed me $1 note before stomping off.
In summary: avoid like the plague, stay in a proper hotel in Colombo.