Can't think of a better way to see Melbourne on a budget. No it doesn't have the glamour of coming home to a nice hotel room, but it's perfectly clean, the bed is quite comfortable and you have a lot more privacy than in a hostel or shared airbnb, which is all you could get at that price. The staff are friendly and welcoming. You're a short walk to the Fitzroy or CBD and on the edge of the free tram zone. Totally safe walking back alone at night. Would recommend to any budget traveler.