This is a slightly dated hotel, the decor could certainly do with an upgrade. And you cannot fir more than one person at a time in the bathroom, it really is quite small.
However - it's one of the few cheap choices in the town centre, it's a 2-minute walk from the harbour, 10 minutes walk from the city Archeological museum and the bus stop to the airport and to Knossos, and has decent breakfast with a good coffee.
What makes this hotel a 5-star to me is the staff. Really nice, friendly, helpful people. We arrived at 2am (delayed flight) and the guy at the reception cheered us up even at this time of day.
Recommended.