#1 We LOVED the location. We were able to take the metro from the airport (it does require switching from the red line to the blue line, but still very simple). From this location we could walk all around Alfama and discover lots of great restaurants.
We also walked from here to Chiado and navigated many of the same popular spots by metro. We felt extremely safe walking around during the day and at night. It is very hilly throughout so wear comfortable shoes and consider the luggage you are bringing (if you have a rolling suitcase you want to be able to carry it up a steep hill if needed). Everything on the inside was very comfortable and all that we needed. We definitely would stay here again!