Location makes up for everything else!
5 minutes from Times Square... period.
The hotel per se is quite average... needs renovation desperately, however the service and people are quite good.
There are lot of eateries and attractions nearby, whether the famous theatres of Broadway or the food carts of New York city.
One commendable point of the hotel is security... they only allow legit resident guests past 10pm which I think is quite good!