We stopped here for 2 nights and paid 160 Euro's in total (the 1st night - a Sunday was much cheaper than the 2nd). Had an enjoyable stay. We chose the hotel because of it's location near the Hauptbanhof. It's probably about a 5 min walk down one street. I was slightly concerned after originally booking it seeing reports of it being in a sleazy red light district. Ignore this. On the road from the train station to the hotel there are some sex shops etc but also just normal shops. It didn't cause us any concern whatsoever.
We didn't book breakfast as it seemed expensive. There was a nice pastry shop (I think it's a German chain) halfway to the train station where we got breakfast for about 3 or 4 Euros each. Room was nice, a tad on the small side than expected, but no issues at all. Staff were pleasant although we didn't need to call on them much other than check in and out.
For eating out, take a short walk down Danziger Strasse to Lange Reihe (paralled street to hotel). Plenty of good bars and restaurants without the need to stray far from the hotel.
Hamburg is a fab city to visit. Loved it!More