Pros: Proximity to everything to a lot of fun places downtown. Going to a show at M Telus or Palais du Congress...a short walk. Only a few blocks to St. Catherine.
Culturally speaking, you're right in Chinatown, so plenty of unique food options if that's your thing. Building is very secure and instructions are very clear.
Cons: Parking can be expensive. Location can be deemed 'sketchy' if you're not used to seeing a lot of homeless people, open drug use, and even some crime. That said, I wouldn't worry as a tourist as long as you are certain of your surroundings. Keep vigil, trust the security of the building (it's more than fine). Also, we were six people, and it's pretty tight with one bathroom. However, if you're only seeking a central spot to lay your head and have access to everything steps away from your door, it's more than adequate.