Great location, easy to get into via keypad. Another review was negative, because they didn't understand the key card to get past the front entrance security. It's easy.
The air conditioning really helped during some of the hottest days in the year. Lider (owned by Walmart) is literally next to the entrance, great place to get food. There are many great cafes and restaurants nearby.
I recommend Fuente Alemana which is a bit further - a 10 minute walk down Merced, then a little bit south to Av. Providencia. The sandwiches are too big to eat with your hands, must use a knife and fork. The Rumano Italiano is world famous, look it up. La Vega Central is a good market to visit, fresh fruit cheap among other things.
Lastarria neighborhood is nearby and vibrant yet safe at night. Just listen for the music and you'll find it.
Obviously I highly recommend this stay.