It is a great option if you are looking for a nice clean room with a good location and an affordable price. If you enjoy walking you can get to Reforma in ten or fifteen minutes but I would recommend taking a cab and driving to your destination.
This is a no frills hotel, there is no lobby per se, just a front desk with a thick glass a small bar and a vending machine with everything from candy to Viagra. The thing about this hotel is that it is popular for mid-day rendezvous and couples who only stay for a few hours. Nevertheless, the rooms are very clean and recently refurbished, they have cable TV and some have a Jacuzzi inside the room for a slightly higher rate.
Be sure and ask for a room facing the inner courtyard (the parking lot), so you can enjoy a good night's sleep. The rooms facing the street are too noisy due to the ever present traffic below.