Ok so I read a lot of comments that could've made me rethink my choice but we were on a budget, we only need a place to spend one night and we needed to be downtown Toronto.
It turned out to be perfect. Nothing luxurious, it's a dorm! You get a coupon for free breakfast (you can pick 4 items of the choices offered: bagel, croissant, yogurt, juice, milk etc. fair amount of choices) and I got the parking for 10$ a night, which turned out to be perfect as well since we walked around and didn't need the car.
One negative point: I did find a hair that wasn't mine on the bed in my room (there was two twin beds and not much space to walk around) but you can ask for clean linen at the front desk and they'll give them to you no problem. Bring your own towels and since they offer shared bathrooms, bring flip flops to take your shower (tub isn't super clean)
You can also go to the 22nd floor there's a terrace and a barbecue, with a nice view of the city.
If you can afford a hotel, good for you - if you're on a budget, and only staying a couple nights, this one is just as fine!
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