Pro: close to Beale St. Con: Everything else
I was concerned about the hotel from the moment we were needing to park. You have to drive into this little area and wait to be directed into the parking deck area. There was a line of four cars waiting while two rude attendants stood around and talked. It also costs $12 to park per 12hrs even for hotel guests. I stayed one night and paid $24 for parking. Plus the parking area is very small and filled to the max. I drive a compact suv and had a terrible time finding a spot i could squeeze in. 
The lobby of the hotel seemed nice and the customer service was fine, not good but fine. However the rooms were well below expectations. The room was not clean, stains on bed comforter, hair in bathroom. We had to request extra towels several times before they came, coffee maker did not work, and we never found an ice machine even though there was a ice bucket in the room. Vending machine wouldn't take coins just dollars. 
The lobby bar lounge/restaurant is a joke. Menu is a couple food items and the bar only serves a limited beer and wine selection. 
If this hotel were not 2 blocks from Beale St. it would not be in business. That is the only good point I can mention. It is also right across the street from The beautiful Peabody Hotel so every time you look out the window you can be reminded that sometimes paying a little more is worth it. I'm very thankful I was only scheduled to stay at the Holiday Inn Select one night!