I spent five nights in this hotel. The location is fabulous...just off San Domingo, within walking distance of all the main attractions of Old Quito. The employees are great ...offering great advice. I got was poorly for a short period, and they couldnt do enough to help me. The rooms are clean, spacious, airy and wtih cable TV (great for when you are ill). I would recommend this hotel to family and friends. The restaurant is at the top of th hotel which has a super view of the square and quito. Price per night is definiately value for money.

Cons:
The room was NOT quiet at night, regardless of how many excuses the front desk provided. {Sleep mask with music is helpful to block noise}. The glass in the windows are quite thin, don’t close completely & barely kept out the wind let alone any noise. View from window wasn’t that great, but better than most.
No elevator, no help with luggage, but stairs are wide enough to get around OK with luggage.
Breakfast is offered & is posted to open at 7am. If you have tours or activities that begin early, don’t count on doors opening until after 7am and don’t plan on any hot food being put out at breakfast until at least 7:15am or later. Restaurant staff seemed surprised when I asked politely (in Spanish) why hot food wasn’t ready at 7am when the restaurant opened. You can ask for a packed breakfast if you leave before 7am & 50% of the time they will actually have it ready.
Keep the hotel address, phone number or business card with you since most taxis do not know how to find this hotel. Allow 30-45 minutes to get to airport, more time during rush hours.

Pros:
Single room under $50 per night; security chain on inside of door in addition to doorknob lock; phones in room; free use of wi-fi or free use of one computer in lobby; free access to safety boxes on second floor; one block to a small historic plaza that has an old church, bus stops & a few nearby small food places; easy walk to other historic areas; very easy to find a taxi; small grocery store about a block away.
Dec 2011, room 304, stayed twice for total of 6 nights - - bed was very nice, great pillows, cable tv & remote worked great, lots of hot water in shower, & each day they had two new bottles of water next to the sink. Room also had a bin for recycled items. Too bad this room was so noisy that it was difficult to sleep at night. I doubt I would every stay here again.

I spent two nights at the Hotel Real Audiencia in Quito. It is a hotel that shows its age a little, but it more than makes up for that with the attributes mentioned in the title. The location is very convenient for walking around many of the sites in the Old City, and the room prices are very reasonable, although you will save the most by booking online. The staff was welcoming and helpful, from the moment I entered the door for the first time until they called me a taxi to pick me up at 4:00 am the morning of my flight back to the U.S. As I was leaving so early and therefore was not able to eat the breakfast included in my room rate, they packed me a sack lunch to take along. This was completely unexpected and unsolicited, but very much appreciated. I found the climb up to the second floor tiring every day, so those with a bad heart or asthma will want a room on the lowest floor possible. This is an excellent hotel for those wishing to pay a reasonable rate for their hotel rooms.

Three day stay in Jr Suite w/king bed, sitting area, and desk. Very nice, roomy, very little street sound. Staff were friendly and helpful. Safe deposit boxes. Plenty of taxis available.