Convenient But Not 4 Stars!
My friend, her mother in law and I traveled to NYC this past weekend to see her daughter sing at Carnegie Hall with her high school choir. When we arrived at the hotel, I went to borrow the luggage cart to use myself but the doorman would not let me take it which was annoying to say the least! I did not want to tip anyone, I just wanted to use the cart and get my luggage to my room on my own. He would not allow it. So we lugged our bags inside to the lobby. 
The lobby is gorgeous! 
Once you get to the room, it is nothing special. The rooms are very small especially if you have three or more people. There are no coffee pots, fridge or microwaves. The bathroom door almost hits the toilet when open. The bathroom is not updated and dull. My room did not get cleaned until around 3pm one day. I just didn't see where hotwire gives this hotel 5 stars. I would have had more amenities at a 3 star!
As far as convenience, you couldn't beat it being right across the street from Grand Central Station. And the beds are very comfy.
If you decide to stay here, be sure to print all tickets and boarding passes before you leave so you do not have to use their computer. They will charge you an arm and a leg to use them!
My stay wasn't horrible but I wouldn't stay at this hotel again due to the size of the rooms and the service.