Stayed there a few days with my wife during our trip to Dubai. Overall, I'd say that the value is ok for the money you pay.
LOCATION: both, good and bad. Close to Deira City Centre and Business Districts. There is also a metro station being built right in front of the hotel (the current one is 10 min walk). Plenty of small, cheap shops and eateries. The neighborhood, however, is bad. It's definitely for poorer people. Need to hold on to your belongings when walking around in the evening.
ROOMS: small rooms, but spacious bathrooms. There is an electronic safe, but front desk does not take anything for keeping. Smoking in rooms is allowed. The furniture is kinda old.
SERVICE: We were surprised, but it is quite decent. The staff overall is very polite and helpful.
HOTEL AMENITIES: There is a sauna, gym, and a small pool, but those are on the roof. We haven't been to either. There is no designated parking! Careful if you have rented a car... Golden Fork restaurant downstairs is good: decent prices and large portions. They also serve alcohol on the second floor. The two nightclubs may cause problems with night sleep. We were on the eighth floor and could hear the music well.
Overall, it's a good place to stay if you are there only to sleep (like we did). Decent value for the money one pays. It'll be better when the metro station construction is over.