I stayed at this hotel twice (once coming from Oslo & once coming back from Alesund) during my recent trip in Norway for a total of 6 nights. Now before I go any further, let me just say that you'll be hard-pressed to find a "cheap" or "moderately" priced hotel in Bergen - the average nightly rate in this and most establishments in the city are inherently (somewhat) prohibitive - just the nature of the beast in this Norwegian hotspot. Just to give you an idea, even with a discount, I still paid about 160 CAD/night. OK, so on with the review...
The hotel is conveniently located at a ten minute walking distance from both the train station and the adjacent bus station (the bus, by the way, is a good cheaper alternative means of getting to destinations like Alesund that are not accessible by train). So if you are riding the rails in Norway like I was, this is a great place to stay if you arrive late from Oslo or need to catch an early morning train for the Norway in a Nutshell tour. The city centre (Fisketorget - the fish market, Bryggen - UNESCO World Heritage site, Tourist Office, etc.) is also at the same distance on foot from the hotel and the main pedestrian drag, Torgallmenningen, is even closer (essentially around the corner).
While you wouldn't necessarily confuse the Rica with a luxury hotel (I would compare it to a good Best Western), the facilities are modern, clean, and inviting. The 24hr reception staff is very helpful and welcoming, and the breakfast (an award-winning one) is absolutely to die for. Huge selection of freshly made smoothies (in shot-like glasses), jams, and pastries, salmon prepared in a variety of ways, hot and cold breakfast items, etc. Honestly, you don't have to eat anything else for the rest of the day! It is a popular hotel with tour groups, so I would recommend that you get down to breakfast as early as possible to avoid crowding.
As for the rooms, they were among some of the smaller ones I've stayed in - they are a little cramped but still pretty comfortable (especially the bed which is covered in a Roros tweed blanket - very warm). So again, if you can reconcile yourself with the fact that this is how much decent accommodation within a Norwegian city costs , I think the Rica is a good choice for your stay in the Bergen.
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC