The Sai Gon hotel is in a convenient, if not very interesting, spot across the road from the Sheraton.
The rooms are quite good if a little shabby. The main problem here is the noise. We stayed on two different floors before and after a trip to the Mekong Delta. Our first room was opposite the mosque, so the call to prayer duing the night made for interesting background noise (not too bad once you got used to it). On the other side of the building however, we were opposite a 24 hour construction site. The rumble and roar was very disturbing.
The hotel seems to mainly attract Asian visitors, and the breakfast seems mostly tailored to their tastes. If you're still excited by omelettes you'll be fine but otherwise there's not much to enthuse about.
Positives: friendly staff, faded grandeur, cool karaoke rooms!
I am sure there are better choices in Ho Chi Minh City.

this hotel deserves much more than just a 3 star rating. the staff are friendly and very helpful. great service and housekeeping. we had two rooms; 1 double bedroom and 1 triple bedroom. both are spacious, clean, comfortable and the bathrooms are excellent. the hotel is located just opposite masjidul jamiel mosque with a few halal restaurants literally at it's doorsteps. the hotel is just within walking distance to some of the famous attractions of saigon city e.g. the opera house, the harbour, and the ben thanh market. i would definitely stay here again!

We recently stayed at this hotel and can recommend it highly. The décor is fresh and modern, the staff are some of the best that we've come across in our travels. We felt like this was much more than a two star hotel with computers in the rooms and other special touches. Breakfast was complimentary and very nice, room was spacious and had an incredible view of the city. This place is definitely a rising star in Vietnam and should do quite well. Recommended for families and couples, although there is not much for kids in and around the hotel.

Unless you are booking into one of the 5 star hotels, a having a small room in Vietnam seems to be the rule. Though we don't mind it as long as it is clean and cozy. If it is not too noisy at night on top of that, well that is just gravy. Saigon hotel was like that. Nothing to much expect, but nothing less either. The place is a solid B&B style house posing as a Hotel with friendly stuff, nice breakfast and within walking distance of where things happen in HCMC.