You can't imagine a better location (except a sea view) - you're at the upper end of la Rambla, on the Placa Catalunya with direct airport bus connection. That's simply fantastic. Everything remarkable is to be reached by foot.
The apparent being in the center of a city is loud though, so if you're not used to city noise, bring your earplugs. if the elevator is not working that also can create additional headaches, especially if you're travelling with small children. In general the place is great for friends, young adults.
Overall good experience.