Good hotel, great location
I stayed here on a recent business trip for the first time in several years. I was pleased that this remains a very good hotel. The location is on Times Square and could not be more conveniently located for business, theatre and restaurants. My room was spacious and nicely, if traditionally, outfitted. The air handling system is relatively quiet, there is a convenient and modern electronics dashboard for hooking up your laptop with the TV, etc. and the bed is very comfortable. It is especially nice that the duvet is of moderate loft and very usable. 
The downsides were severe problems signing onto the internet either using the ethernet cable or the hotel's wi-fi, and noise from the hallway. Soundproofing is good up & down and side-to-side, but every word spoken in the corridor comes through loud & clear. 
I didn't have a chance to try the lounge but appreciated the free access I was given at check-in, without asking.