For a young couple, this was the perfect place to stay. Affordable, within walking distance to most tourist attractions in Hollywood, and a 2-block walk to the metro if you want to go to Universal or Santa Monica. It was easy to find and we barely even saw the other guests.
A lot of other reviews mention the noise level--the room had two sets of earplugs waiting for us, but we didn't need them. Maybe if you come from a quiet little town or need absolute silence to sleep it may not be for you, but don't let it put you off otherwise! The value is absolutely worth it, and I would definitely stay again.