Outstanding value for money if you want to stay close to the centre of the town.
Walking-wise, it can be quite challenging, given how hilly Hobart is, but very convenient. The bar on ground floor can be quite loud, and there are some questionable design decisions regarding the room (i.e. sink and the big mirror in the room, next to the bed and not in the bathroom), but overall if you aren't going to spend too much time in the hotel and use it only to sleep, this should not be a problem