The hotel that is really centrally located, close to Odessa's touristic attractions and Deribassovskaya street where a lot of restaurants are. It was quiet cheap for tourist used to Western-European prices... but at the same time expensive for Ukrainian standards. And I guess that location and price are two main and only advantages. The hotel need to be renovated, if you're staying at last floor prepare for walking by the long stairs as there's no lift.. And we had to pay extra for leaving a luggage at the reception for a couple of hours before leaving when we still wanted to enjoy Odessa after check-out (it happened to me for a first time).
If you're looking just for a place to sleep it's ok, but don't expect much.

The hotel is located in a very ancient and fascinating palace, anyway some refurnishing would be necessary.
The location is fantastic and almost everything can be find near the hotel or with a walk (Odessa is a quite big city so the centre is big indeed).
The service is normal considering the ex-soviet countries standards.
The breakfast can be improved because the place doesn't seem very hygienic and the choice is quite limited.

The location is great, but that about ends the hotel's advantages. The building is old, rundown. No hot water in our room, windows barely close, street noise is terrible, furniture very old, and cleaning ladies plainly aggressive. Moved to another hotel.

nice hotel, a very comfortable location in the city centre: five minutes walk from Deribassovskaya str.