Look, this place is cheap. In Macau, hostel-like accommodation is rare and so if you're an experienced traveller who doesn't care for luxuries it could be for you. People rarely stay in Macau more than one night and you probably wouldn't spend much time there.
Why do I say this? Because it's rustic, to an extent even run-down, but entirely bearable short-term.
Ask for a room away from the reception because the old caretaker sleeps on a bench there and tends to make a lot of noise.
Rooms are relatively clean considering the place's age. No air-conditioning in any rooms as far as I know, it's fans only. The toilet and showers are small and very basic. You may or may not get hot water, but in summer, what the hell, it's sweltering outside anyway.
The place is well-located, mere minutes walk from Senado square and in the middle of the historic district. A water cooler is located in the lobby where bottles can be filled.
No English spoken at reception but you should be okay with hand signals and the cheat sheet taped to the counter.