I was in Munich on business and would have preferred to stay in the city centre, but as there was a big Electronics Fair on and all central hotels were booked out or outrageously expensive, I ended up at the Wetterstein for 4 nights. As the price was reasonable and even hotels in this area were booked out I was unsure what to expect, however I was pleasantly surprised. The hotel staff were friendly, the rooms were functional and clean, the breakfast was good and service is fast, There is a U-Bahn station (Wettersteinplatz) 5 minutes walk from the hotel.
I had a street facing room, however in November with snow falling, my window was definetly staying closed and then the noise of the occasional tram mentioned by an earlier review did not disturb, It seemed to me like the first tram zoomed past at about 6:50am and I never heard the late ones ( too tired and having enjoyed some local beer!).
A colleague stayed at the hotel also and had no complaints.
PS: If you are going to Munich to see Bayern Munich play at home (unfortunately no games while I was there) this is a good location as its just down the street from the stadium.