I stayed here with a group of people back in June. The location is decent and within 5 minutes walking distance from the center of Siwa if there is such a thing.
The rooms at Cleopatra are dirty, extremely old, and full of mosquitos. No A/C, just a fan which is normally fine but it was also 50C outside so it got pretty hot! There were dead cochroaches in the bathroom on the floor. The one thing I'm happy to say that we didn't get when staying at the Cleopatra was bedbugs.
My recommendation would be to look around at other places to stay while in Siwa. Yes, it's only 30EGP for a double room with shower but believe it or not, it's not even worth the 30 pounds.
When you arrive to Siwa you will think that you're in another world. It feels as if it's the 1950's. Everything is built from mud and brick with dirt roads and the main mode of transportation here is donkey and cart. Siwa in general is very cool, there are natrual springs, amazing sunsets, cheap souvenirs, and desert safari tours that you can book through many tourist offices in town. Just be careful which operator you choose because our 4x4 jeep flipped over in the Sahara. For the full story see here: http://www.pausethemoment.com/2010/06/21/a-scary-day-in-the-sahara-desert/