Disappointing.
I stayed here with my boyfriend for two nights on vacation during the week and was pretty excited about staying here. The only reason that this place is getting anything more than the worst rating is because the gentleman who checked us in was so courteous and helpful. For the price that one pays to stay here, you will find more value in the closest Holiday Inn. At least there is a standard that one can expect from a stay here. 
We stayed in a Standard room on the second floor. I'll start with the good. The location from the hotel is nice as it is around the corner from Union Square and centrally located. The lobby is impressive and tastefully decorated. There was a comfortable king sized bed in the room. That's where the good ends. It seems like the Morgans Hotel Group spent all their money renovating the lobby and the elevators. Our floor just seemed painted over with an awful pastel purple color. The room, the closet, and the bathroom were small. The bathroom grout was orange from rust seeping from the metal pieces. Our bathtub drain was clogged. After calling to have it fixed the next day, we gave up as we had to spend the whelse weekend taking quick showers to avoid standing in ankle deep water. Sleep was not an option as the walls were paper thin and you could hear everything from the music thumping from the bar downstairs to the conversations outside the door to the street noise outside.
We opted for $36 all day parking with in and our privileges next door to the hotel on the first day. We should've stuck with those guys because we paid $57 (includes parking tax) to wait outside for more than the 15 minutes promised to bring the car around. We also had to chase down the valet as he left the car without the keys without acknowledging us before heading inside to the computer. 
We had a wonderful stay in San Francisco but could not count on this hotel to be a comfortable place in which to return. No thanks.