Very well located in Downtown, but expect some noise.
We stayed in room 211 for 2 nights and found our stay to be a fairly good and standard hotel experience with a few minor snags that were not entirely the fault of the hotel.
The room was a good size, with a nice large bed, ample space for suitcases and lots of furniture - big side tables, a work desk, a large TV stand. Iron and ironing board were provided as well. The kitchenette was well equipped and also a good size - meaning that one enjoy a lengthy stay in this room without feeling too cooped up. The only drawback was that there were no extra blankets in the room, and when we called for some more - a sudden cold front had arrived - they explained that they had run out.
The bathroom was also big - nothing memorable about it, but had everything one would expect.
The hotel venue was very well located in the heart of downtown Austin - within walking distance to several bars and restaurants and an amazing Whole Foods - to compliment the kitchen in your room. 
Parking was ample and free.
The positive aspects include some of the standard Extended Stay America features such as an ordered cleaning service - it is not standard, but if you request it, they charge you $5 for it. (7 day stays get one free service a week) - I think this is a great idea. If one needs any items replaced (coffee, soap, washing up liquid), one just asks at reception. I have always found a daily cleaning service a bit of an intrusion and a waste of resources.
The negative aspects were a little out of the hotels control - the staff at this hotel seemed a little inexperienced and young. Because of this fact they seemed a little unsure about things - when we asked for a kettle to boil some water, they gave us a pot. When we asked for extra blankets, they said they had run out - a hotel running out of blankets shows little foresight. 
The most unpleasant aspect of the hotel and one which did detract quite a lot from what was otherwise an agreeable stay were the noise levels - from the street as well as inside the hotel. We were constantly bothered by the sounds of those walking in the room above us - and to make matters worse - my wife saw several frat boys arriving with cases of beer and our last night involved huge amounts of noise from upstairs - slamming doors, loud talking and chanting 'chug chug chug', running up and down the staircase until 3/4am. Not great.
To conclude this Extended Stay America is great for just that. I don't think they are attempting to be a luxury, all-the-frills hotel and that is the their strength, but also their weakness. For what they offer, their price could be lower, but you are ideally located in the heart of Austin, so it gets the job done.