Stayed here for 4 nights in February 2011.
Our first night, we stayed in the back room- Lonely Planet says to request them for the "fantastic river views." What it DOESN'T tell you is that the minute your upstairs neighbors come home, you will NEVER SLEEP. There are ultra-thin, ultra-loud floors- it was like giants stomping all night/early morning (and it's a "family suite" so add annoying screaming kids too). We complained to the management, and they moved us to the top floor...to a suite, for no extra cost.

so:

pluses:
Super-nice and helpful staff. We had nothing but kindness and help from them, at all hours of the day & night.
awesome location in Old Town.
Average price, but large homey rooms, nice views
Super clean
breakfast is served in this amazing glassed-in remodeled room that literally hangs over the river.

minuses;
chintzy breakfast- just juice and a roll.
free internet access, but just 1 computer, and it's liable to be monopolized by a guest.
THIN WALLS AND FLOORS!!!!

I was staying there for 2 nights with a friend. One of the male staff there was beyond rude and not very pleasant. He works there around noon and he's usually the one that opens the door late at night. He also cleans the rooms and etc. One night we came back to the hostal around 12:30 pm and he was so upset that we woke him up from his mattress, it's usually right by the desk in the reception area. First of all thats his job and another thing was he came nocking at our rooms at 11:10am when check out is at 12:00 noon. He wanted to lean the room, because he had more reservations. My friend room had a huge hole on the ceiling and this prticlar man got upset too, because my friend ask him for a piece of carton to put up. I will definately NOT recommend this hostel to no one. Oh! but they sure want their payment right away when you check in -in full.(CASH). 4 thumps down!!!

The property is in a very good location. The rooms are good, just no insulation so you hear everything. The breakfast is quite poor. Just a roll, coffee and watered down juice. The staff does not speak English so are not too helpful.

There is almost nothing special about this hotel, except for the best bed we had in Ecuador. It's just a very nice place to stay, on a good location. Might be a bit overpriced.
There is free internet (no wifi) available, incluing the use of a printer.