We stayed here for 4 nights in early January 2013 on a business trip.
Its not in the city proper, but the hotel has a shuttle bus that gets you there in 5 minutes.
If you're lucky enough to have a room facing the harbor, the view can be very nice. Rooms on the back side of the hotel look at a brick wall.
We had read the tripadvisor reviews before arriving, so we were expecting the mildew/mold smell that pervades this hotel. It does smell like it was flooded at some point in recent history. We were originally on the 2nd floor, and our room stunk badly plus the shower didn't work.
After a good hour of arguing with the desk we were moved to the 1st floor and a much better room with a view and a balcony. The downside was it was a smoking floor, but that turned out to not really bother us.
The food was nothing special. On our last night there was a special banquet for us and they busted out the Portuguese food. That was very good.More