I would highly recommend staying in the Zilker Festival Suite for your next trip to Austin, TX for many reasons:
1. Location. You are very close to downtown Austin but still far enough out that the neighborhood is quiet. You are also between S. Lamar and Barton Springs Rd, which offer plenty of choices of eateries, etc. You are also very close to Zilker Park and Barton Springs which offer plenty of paths for walking, bike riding, swimming in the springs or just people watching.
2. Price. Yes, the room is on the small side for two people, but no smaller than a hotel room and if you don't plan on spending all of your time in there, you don't need much more. And you won't find a hotel at a better price in an area as nice as this.
3. The Room. Small but spacious with the murphy bed (which was also very comfortable) CLEAN. furniture in good repair, fresh paint, beautiful bathroom. bright white towels so you know that they are clean.
4. Daniel, your host. Very gracious, left a fridge full of complimentary drinks, snacks, and coffee. Had a list of area restaurants, two small maps of the neighborhood and downtown, plus a few other extras (local events listing, local paper, etc)
Very responsive when we had an issue with the cable box for the TV. he also has 4 lovely "therapy" dogs that like lots of pats. i was missing my fur baby back home, so it was nice to get some puppy-time.