Bottom line, this place is really cool and recommended.
The second bed is tucked away in a separate room and was perfect for our daughter. The main bed is 'open' to the rest of the loft which was fine by us. The big table for a family dinner was a bonus as it's not really obvious in the pictures. (In fact the photos may be a bit out of date as they don't show the fuzball or the hammock.)
As others have mentioned there is a restaurant downstairs, just to the left, and on Thursday night it turned into a club with loud music. But we didn't notice it on our second night so maybe it's just an occasional thing.
The location is perfect.