We stayed two nights in November 2011 on our way home after two weeks on the Turkish coast. Room was on the small size but was quite clean and had an electric kettle. Good location with easy access to the Pera Museum, Istiklal Cad. and the wonderful street full of mezze restaurants (to the right as you left the hotel). Staff was helpful with airport transfers, arriving and departing.

We have booked for a double room for 2 nights..Our room at 7th floor was so small, you cannot walk in the room..But bed, water, air condition, breakfast, staff was OK..The hotel place is wonderfull, easy to go Istiklal St, Galata , metro and tunnel..The main problem is NOISE!! Walls are too thin, and when you are at corridor, or when you are waiting the lift you can easily hear noises of your neighbours..I think the hotel does not deserve 4 star, 3 star suits well!

I stayed 7 days in this hotel and I was satisfied.

I booked a single room and got a big triple room with a view at the Golden Horn. The room was very clean and the daily housekeeping was attentive and quite perfect.
There was a bottle of vine as complimentary. In the room there was everything you need: electric kettle with free tea and coffee, minibar (quite fair prices), slippers, shampoo, conditioner, hair dryer, sewing kit, nail file, tv with international programmes, etc.
The breakfast was good and varied and the staff very friendly and courteous.
In the basement of the hotel you can find a small spa with sauna, turkish bath and fitness room. You can also use the spa area at Tulip Hotel (some meters away from Pera Rose) which have sauna, turkish bath, a bigger fitness room, swimming pool and a whirlpool. They offer different massages (fair prices).
The hotel is located in an area with lots of bars, restaurants and clubs. It's quite loud on weekends. So if you are sensitive, don't forget earplugs or stay awake and celebrate together with the people on the street.

Now some minus points:
At the check-in they told me they will block 1 night at the credit card as deposit but they blocked more than the total amount. A bit strange, I think.
Internet was free but in need of improvement (sometimes not working or slow).
Every day to every 2 days, I had problems with the key card system. This was a bit annoying and I wasn't the only guest who had this problem.

All in all I was happy to stay in this hotel and would come again and recommend it. You get a good value for your money.

The Pera Rose has a great staff, large, tasty breakfasts, and very good coffee (a must in my book). It is also clean. We stayed here for 3 nights in November as part of a tour and my husband and I had an exterior room (facing the back alley) and our kids had an interior room facing a courtyard or such. The lack of a view didn't bother me, but the nightclub that kicked off in the evening and went until 0400 was unbelievable. Our room was right above the nightclub and with earplugs, I do not exaggerate when I say that the noise was so bad we did not sleep for 2 nights until we got moved to a higher floor on the 3rd night. The staff was very kind and moved us to a higher floor and better room, but it was amazing because it still overlooked the back alley (thus over the nightclub) and we still wore earplugs to sleep! We're pretty laid back when we travel, but sleep is a must, so my recommendation is that if you stay there, MAKE SURE you do not get a room over the nightclub, especially if you have children. At the end of the day, I would stay there again, but I would make sure that specified where I wanted my room to be.