Do not stay here at any price
I always wondered about this place as I walked from Penn Station to my destination. Sadly, I wonder no more, as I had the unfortunate opportunity to stay here earlier this week. The high price of $299 per night shows that you definitely don't always get what you pay for! As another person said, the lobby gives you hope, but once in the room, your hopes are dashed. The carpet is stained and uneven, the walls are dirty, the sockets push in, hang out, or are plateless, the beds are in bad shape, and the toilet seat appears not to have been replaced in the last 50 years. The desk wobbles side to side, the clock radio is useless, the light fixtures are in bad shape, it's almost impossible to turn off the water in the sink...and so on. It's hard to sleep, as one is always imagining what critters might be your roommates!
Bottom line: don't do it!