Great location as it is situated in the middle of a lot of nice restaurants, pubs and eating places. Also very close to Royal mile making it easy to access by foot and not requiring any transport (ie taxi/uber)to get to some of the exhibitions at the Royal mile.
Bus tours are also departing from the Royal mile which was very convenient as it was within 5-10 minutes walking. Also experienced the Old Town area very safe to walk around and people were extremely friendly and helpful.