A nice hotel with helpful staff. Rooms were obviously recently renovated, but were quite small. The hotel was spotlessly clean.
Nice Chinese restaurant around the corner (turn right out of the hotel door, then right again, and it's on your left).

I was in Lisbon for a confernce and this was one of the conference hotels. tt is clean, quiet, and the staff are very helpful. I paid 44 Euros a night, and wuold gladly stay here again. Location is great and there's a cafe with wifi about 10 metres away. Cabs are cheap so it's easy to get to the Alfama and the Bairro Alto. Highly recommended.

We staid 8 nights.
They debited the whole amount of our stay on my credit card one day before we arrived at hotel. (unauthorized as I didn't sign any receipt)
They didn't inform us about this and we paid the total stay before we left.
So we paid twice but they refused to refund us once we found that the same bill was charged a second time.
They are still holding my money. They don't reply to our mail.
Then this is illegal!!
They could only charge one night in advance and not the whole amount.

We stayed at the Residencial Italia for three nights in June 2006. I agree with the previous reviewer about the convenience of the location. The neighborhood was pleasant and quiet, and there are several non touristy restaurants nearby. Also, it is surprisingly near to the airport - we got there in a 10 minute cab ride in the early morning.
The rooms are fine - simple and clean, with air conditioning. We had breakfast each day on an outdoor patio.
The front desk staff were all young, friendly, and helpful with directions and other information.