I did stay there for business purpose and I did check in on Sunday. As usual, I got a room facing the not so nice backyard. First impressions: a dusty vintage hotel (except the real nice and large bathroom).
Parking is also an issue - I found a parking place with 28€ per day (not 15 as advertised) and in front of the hotel you can not stop to unload your pack. So I had to walk a significant path from car to hotel with my luggage. I would expect more.
The concierge is very polite but cold - he seems not to care that you cold not stop in front of the hotel to unload your stuff.
On TV you get less than 10 channels - I did not stay here to watch TV but I did develop some pretentions starting with 3 stars hotels. Not related to the hotel but to TV station - there is a Hamburg presentation channel that has some old images, I think years 70-80 judged by colours and peoples dressing and it's only in German. Indeed, you don't miss much if you don't know the language but I found ludicrous the Hamburg TV promoting strategy.

Regarding positioning, indeed the hotel is nice located but I do not consider this a plus because there are plenty of other hotels there, all with about the same rating.
I found intriguing the expensive internet access (at home I have broadband access for 1 month with the cost of 1 hour here - 8€ . Seems T-mobile is extremely expensive and as a hotelier I would be more careful with what I offer to my clients). But this should also not affect hotel rating because it's a third part service.

we stayed in this hotel in Hamburg in late January 2009 and we were really impressed! The receptionist on duty gave me and my partner an upgrade to a suite! Room 100! Wow! It was fantastic...the room was huge, the sitting room more than adequate, separate toilet an bathroom and a large walk in wardrobe. Staff very friendly, helpful, breakfast was excellent. We paid 97.50 euro per night for 3 nights and I thought it was excellent value. The U-Bahn station Stephansplatz is just 10 metres away and the lovely shopping area Colonade is around the corner. Great location....cant rave enough about this place....excellent!

Yet again, tripadvisor came up trumps for our last minute selection of holiday hotel. A fabulously affordable hotel right in the middle of Hamburg ideal for a short family or business stay.
We booked the hotel for a family of three (including a 13 year old boy) to enjoy the festive Christmas Markets around the centre of Hamburg. The rooms were well appointed & different from the mainstream 'vanilla' high price hotels. The booking even sent SMS to confirm. Check In took second & lifts to all floors meant a quick transit to the room which easily accommodated the 3 of us. The sofa converted to a proper double sofa bed which was a change from the usual temporary 'camp beds' we had been offered in other hotels.
The price included breakfast which was a bonus as it was a buffet that included hot eggs & bacon as well as the usual selection of cereals, cold meat, cheeses, fruit & yoghurts. There was enough to keep us going until lunch.
The location is ideal being only 5 minutes walk from the main Shopping centre on Mokenburg Strasse & the main Rathaus Xmas Market. Food outlets are in abundance within 2 minutes on the Colonnaden & the Hofbrau Beer Keller is only 1 minute next door. This is an ideal hotel for exploring Hamburg that has a charm & quality you would find in hotels well above the price.

I good clean decently priced mid range hotel with friendly staff. It’s in a good location to travel all over Hamburg and has a few Bars and restaurants quite close. A decent continental breakfast with plenty of choice is provided.