You can't get a better location for this price. Right inside the city walls at the Jaffa Gate. We had a lovely room, the breakfast buffet was nice but nothing beats the experience of being in the old city. We got up early in the morning and enjoyed exploring this incredible old city before the bus loads of tourists arrived.
We joined a tour after a week and were place in a "luxury" hotel about 1 km from the old city. This hotel charged twice the price and the experience was no where near as wonderful as staying at the Gloria.